Cryptocurrency Optimism Decreases More Than 7% Within 24 hours
Portfolio Pulse from Benzinga Insights
Cryptocurrency Optimism (OP) has seen a price decrease of 7.68% in the past 24 hours, now at $3.02, despite an 8.0% increase over the past week. The volatility has been highlighted by Bollinger Bands in the provided chart. Trading volume for OP has risen by 15.0%, while the circulating supply has slightly decreased by 0.22%. Optimism's current market cap is $2.90 billion, ranking it 33rd in the market.
January 31, 2024 | 7:01 pm
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NEGATIVE IMPACT
Optimism (OP) has experienced a 7.68% price drop in the last 24 hours, despite a weekly uptrend. The increase in trading volume and a slight decrease in circulating supply may indicate heightened investor interest and potential scarcity.
The short-term impact on OPUSD is negative due to the recent 7.68% price decrease. However, the increased trading volume suggests growing investor attention, which could mitigate the impact. The slight decrease in circulating supply could also suggest potential for price recovery due to scarcity effects. The overall market ranking and the past week's performance may provide some support to the price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100