Optimism
Why Optimism is down 16.1% today
Analysis
Optimism (OP) fell 16.1% over 24h as traders reacted to reports that Coinbase’s Base network may move away from Optimism’s OP Stack, raising concerns about reduced future usage and influence of Optimism’s tech in the Ethereum L2 ecosystem (Decrypt). While Ether.fi’s decision to shift its non-custodial crypto card product to OP Mainnet is a positive adoption signal, it likely wasn’t enough to offset the negative sentiment from the Base-related headline (The Block, CryptoNews).
Contributing Factors (3)
Coinbase-Backed Ethereum Network Base to Dump Optimism Tech as Potential Token Looms
Ethereum layer-2 network Base is leaving behind the Optimism technology stack as it seeks faster upgrades and reduced overhead.
Ether.fi shifts non-custodial crypto card product to OP Mainnet from Scroll
Ether.fi will migrate roughly "70,000 active cards, 300,000 accounts, and millions in user TVL to Optimism," over the coming months.
Ether.fi Moves Crypto Card Product to OP Mainnet From Scroll
Ether.fi Migrates Crypto Card From Scroll to OP Mainnet The post Ether.fi Moves Crypto Card Product to OP Mainnet From Scroll appeared first on Cryptonews.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.