Optimism
Why Optimism is down 10.0% today
Analysis
Optimism (OP) fell about 10% over the past 24 hours as traders reacted to reports that Coinbase’s Base network may move away from Optimism’s OP Stack/tech, raising concerns about reduced future demand and ecosystem alignment for OP. Decrypt reported Base could “dump Optimism tech” amid renewed token speculation, and AMBCrypto highlighted the same drift as a key driver behind OP’s selloff.
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.
Optimism down 22% as Base drifts from OP Stack: Is more decline coming?
Analyzing why Optimism's price dropped in the past 24 hours.
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.