Cryptocurrency Optimism Decreases More Than 4% Within 24 hours
Portfolio Pulse from Benzinga Insights
Optimism's (CRYPTO: OP) price has decreased by 4.11% over the past 24 hours to $2.35, despite a 3.0% increase over the past week. The trading volume for OP has decreased by 22.0%, while its circulating supply has increased by 0.25% to over 1.05 billion. Currently, OP's market cap ranks #50 at $2.46 billion.
April 26, 2024 | 7:02 pm
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NEGATIVE IMPACT
Optimism (OP) experienced a 4.11% price decrease over the last 24 hours, moving down to $2.35, despite a weekly uptrend of 3.0%. The trading volume has seen a 22% decrease, with the circulating supply increasing to over 1.05 billion.
The short-term price decrease of 4.11% in Optimism (OP) could lead to negative sentiment among investors, potentially causing further short-term declines. The decrease in trading volume suggests lower investor interest, which could exacerbate the price drop. However, the increase in circulating supply might have a dilutive effect on the price. Given these factors, the short-term outlook for OPUSD is likely negative.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100