Cryptocurrency Optimism Down More Than 4% Within 24 hours
Portfolio Pulse from Benzinga Insights
Cryptocurrency Optimism (OP) has seen a 4.46% price drop to $3.35 in the last 24 hours, continuing a weekly downward trend with a 14.0% loss. Trading volume decreased by 74.0%, and circulating supply fell by 0.89% to 957.38 million, which is 22.29% of its max supply. Optimism's market cap is ranked #30 at $3.20 billion.
January 18, 2024 | 3:01 pm
News sentiment analysis
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NEGATIVE IMPACT
Optimism (OP) has experienced a significant price decline of 4.46% in the past day and a 14% loss over the week, with trading volume also decreasing sharply by 74%.
The price drop of 4.46% in the last 24 hours, coupled with a 14% decrease over the past week, indicates a bearish trend for Optimism. The significant decrease in trading volume suggests lower investor interest and could further pressure the price. The reduction in circulating supply may not be enough to counteract the negative sentiment in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100