Optimism
Why Optimism is up 3.0% in the last hour
Analysis
Optimism (OP) rose about 3% over the past hour after news that Optimism passed a buyback proposal aimed at bolstering the OP token. The governance-approved buyback plan likely improved near-term sentiment and demand expectations, supporting the price move.
Contributing Factors (1)
Optimism passes buyback proposal to bolster OP token
The Optimism blockchain will begin to sell half of its Superchain revenue to buy back its own token starting next month, with the tokens held for future ecosystem use.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.