Cryptocurrency Optimism Decreases More Than 4% Within 24 hours
Portfolio Pulse from Benzinga Insights
Optimism's cryptocurrency (OP) has seen a 4.48% price drop to $3.23 in the past 24 hours, continuing a weekly downward trend with a 13.0% loss. Trading volume has decreased by 41.0%, while the circulating supply has increased by 5.17%. Optimism's market cap is currently ranked #30, valued at $3.10 billion.
January 09, 2024 | 7:02 pm
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NEGATIVE IMPACT
Optimism (OP) has experienced a significant price decline of 4.48% in the last 24 hours and a 13% decrease over the past week, with a decrease in trading volume and an increase in circulating supply.
The price drop of 4.48% in the past 24 hours, coupled with a 13% decrease over the past week, indicates a bearish trend for Optimism's OPUSD. The decrease in trading volume suggests lower investor interest, which could further pressure the price. The increase in circulating supply without a corresponding increase in demand could also contribute to downward price pressure. Given these factors, the short-term impact on OPUSD is likely negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100