- Coinbase’s recent launch Layer 2 has met with excitement particularly for the $OP.
- Immense surge in trading and buying interest for the Optimism ($OP) token.
Coinbase’s recently launched its Layer 2 blockchain technology. However, the launch has met with excitement and optimism, particularly for the $OP token. The technology is a major step forward for the digital payments industry, allowing for more efficient transactions and faster transfer speeds.
Coinbase’s Layer 2 blockchain supports multiple blockchains, including Ethereum, Bitcoin, and Litecoin, allowing users to quickly transact across any of these digital currencies without having to wait for long confirmation times. Furthermore, Coinbase’s Layer 2 blockchain launch has enabled them to introduce the $OP token.
The news of Coinbase’s launch of their layer 2 protocol saw an immense surge in trading and buying interest for the Optimism ($OP) token. The platform will initially be operating as a sequencer for Base transactions. Nevertheless, it is expected that the validator set will eventually become entirely permissionless.
$OP – Utility-based Crypto
This token is a utility-based cryptocurrency that allows users to access discounts on transaction fees when using Coinbase’s services. In addition to this, $OP holders can also earn rewards in other cryptocurrencies by staking their tokens in validator pools on Coinbase Earn.
All in all, this new technology and token offering from Coinbase has provided users with an innovative way to make digital payments while earning rewards at the same time.
Optimism ($OP) Rallies On Base Launch
Following the official Base announcement, Optimism’s native token OP experienced a significant surge in value. However, with the current market cap of $680 million, the Optimism token is ranked 75 amongst all cryptocurrencies. At present, the Optimism token is trading at $2.88, not far off from its historic peak of $3.11.
As Coinbase built its own blockchain, Base, the network will be running a variety of products from the exchange. This move marks a major step forward for Coinbase in terms of decentralization, allowing them to expand its offerings and secure its network against malicious actors.
