- Year‑to‑date loss of 64.91% and trading 87% below ATH of $4.86 highlights continuation of downtrend since early 2024.
- Recurring monthly token unlocks—1.83% (31.34M tokens) on June 30—continue exerting dilution pressure and widespread bear sentiment among traders.
Optimism (OP) is currently trading at $0.613, marking a modest +3.55% daily gain, though this comes after a substantial decline. In the past month, OP is down -13.54%, and over six months, it has plunged -73.81%.
Year-to-date, the token has lost 64.91%, and it’s currently trading over 87% below its all-time high of $4.86. The long-term chart reveals a consistent downtrend since early 2024, as investor sentiment shifted away from L2 tokens amid broader market weakness.
Fundamentally, Optimism remains one of the most prominent Layer 2 Ethereum scaling solutions, leveraging Optimistic Rollups. However, the project has faced heavy token unlocks that continue to suppress price performance.
On June 30, another 1.83% of OP tokens will be unlocked, equivalent to 31.34 million tokens, following similar events on May 31 and April 30. This recurring dilution contributes to bearish outlooks among many traders.
Despite the token’s price issues, the Optimism ecosystem is evolving. The protocol resumed Bitbank deposits, participated in several strategic rollouts, and remains central to Ethereum’s scaling narrative.
The team is working on modular infrastructure and cross-chain communication protocols, but progress is being overshadowed by speculative fatigue in the L2 sector.
On the technical front, some analysts suggest that OP may have bottomed around the $0.60–$0.65 range, forming a potential falling wedge or descending triangle pattern, which often precedes a reversal.
Momentum indicators like RSI are stabilizing in oversold territory, and MACD is flattening, suggesting a possible shift in trend. Short-term resistance sits around $0.75–$0.85, while a breakout above $1.00 would be needed to flip the macro structure bullish.
There’s speculation of a “once-in-a-cycle opportunity”, based on the theory that OP is completing a WXY correction phase. If that thesis holds, OP could target $2.78 and eventually retest ATH, though this requires Ethereum strength, bullish macro conditions, and a halt to supply inflation.
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