• Coinbase announced the launch of its Layer-2 platform Base on Optimism’s OP stack.
• The news saw Optimism token OP surge 16% and hit highs of $3.10 on Coinbase.
• Market activity was also up, with data from CoinGecko showing trading volume rose nearly 90%.
Coinbase Launches Base on Optimism’s OP Stack
Coinbase announced the launch of its Layer-2 platform Base on Optimism’s OP stack. This news saw Optimism token OP surge 16% and hit highs of $3.10 on Coinbase.
Optimistic Rollups to Increase Transaction Speed
Base is built upon Optimistic Rollups to increase transaction speed, reduce gas fees and offer a secure, low-cost and developer-friendly platform for people to create, deploy or interact with decentralized apps. The project’s goal is to onboard the next 1 billion or more people into the crypto space, according to Coinbase.
Market Activity Up After News
Market activity was also up after the announcement of Base being launched on Optimism’s OP stack. Data from CoinGecko showed trading volume had risen nearly 90% in the past 24 hours to over $733 million. Furthermore, a bullish flip in the relative strength index suggests bulls are in control.
Optimism Price Reaches All Time Highs
The news saw another unrelated cryptocurrency called Base Protocol spike more than 250%, while the price of Optimism jumped 16%. With such positive sentiment across the community, optimism price reached its all-time high of $3.19 in early February this year and it is likely that it could go on to hit a new ATH soon.
Overall, this news has been highly beneficial for both optimism token holders as well as those who have invested in Base Protocol coin holders as prices skyrocketed following this announcement by Coinbase . With market activity increasing and bullish sentiment surging across both communities there is potential for further growth for these tokens over time if current trends continue