All You Need to Understand About the Optimism Superchain Upgrade: Is $P Price Going to Reach $1 This Week?
For crypto asset to compete with major entities such as Google and Visa, scaling traditional chains like Ethereum is crucial. Ethereum spearheads this initiative via layer-2 networks, with Optimism being one of the pioneers in rollups. Optimism has expanded significantly, overseeing billions in total value locked (TVL), catering to thousands of users, and supporting top Decentralized finance protocols like Aave.
As reported by L2Beat, Optimism currently oversees more than $3.8Bn in assets, positioning it as the third-largest Ethereum layer-2, following Base and Arbitrum. Importantly, its technology underpins other significant L2s, such as Base and Unichain. Within the Optimism network, more than $1.3Bn in assets have been minted natively, showing a +7% increase over the last week.
(Source: L2Beat)
This increase in activity parallels the recent upturn in OP crypto prices. OP USDT has risen by +13% from the lows in September and is currently valued around $0.70. Over the past month, it has increased by +4%, and +7% in the last trading week, although it remains down -58% year-to-date.
(Source: Coingecko)
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Optimism and Scaling Ethereum: Progress Made
As Optimism becomes increasingly scalable and efficient, it attracts more interest from users and developers. Numerous entrepreneurs are already looking at Optimism to launch some of the best meme token ICOs.
Central to Optimism’s vision is the Superchain, an ambitious “network of networks” that integrates Ethereum layer-2 platforms built on its technology into a unified ecosystem.
