Cryptocurrency Optimism Down More Than 8% Within 24 hours
Portfolio Pulse from Benzinga Insights
The cryptocurrency Optimism (OP) has seen a price decrease of 8.1% in the past 24 hours, continuing a week-long decline of 12%. Despite the price drop, trading volume has increased by 36% over the past week, with the circulating supply rising by 5.5%.
October 03, 2024 | 3:02 pm
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NEGATIVE IMPACT
Optimism (OP) has experienced a significant price drop of 8.1% in the last 24 hours, continuing a week-long decline. Despite this, trading volume has increased by 36%, indicating heightened market activity.
The 8.1% price drop in 24 hours, along with a 12% decline over the week, suggests a bearish trend for Optimism. The increase in trading volume by 36% indicates that there is significant market activity, possibly due to investors reacting to the price drop. The increase in circulating supply by 5.5% could also be contributing to the downward pressure on the price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100