Optimism
Why Optimism is down 13.5% today
Analysis
Optimism (OP) fell 13.5% over the past 24 hours as investors reacted to reports that Coinbase’s Ethereum L2 network Base may move away from Optimism’s OP Stack, raising concerns about reduced future demand and influence for Optimism’s tech in the broader L2 ecosystem. Decrypt and AMBCrypto both highlighted the potential shift by Base and the resulting market pressure on OP, which likely weighed on sentiment despite a positive adoption headline from The Block noting Ether.fi migrating a product to OP Mainnet.
Contributing Factors (3)
Optimism down 22% as Base drifts from OP Stack: Is more decline coming?
Analyzing why Optimism's price dropped in the past 24 hours.
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.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.