• Optimism [OP] blockchain saw some growth in the number of transactions and volume, but failed to make a comeback on the price and metric front.
• Metrics showed that OP’s weighted sentiment was -1.025 and its MVRV ratio also witnessed a dip after peaking on 17 June.
• Additionally, OP was exchanging hands at $1.199 at the time of writing and the Relative Strength Index (RSI) was seen in a descending position.
Optimism Network Struggles for Comeback
The Optimism network witnessed some growth over the last 30 days, however, failed to share the enthusiasm of the network with investors. Despite an uptick in number of transactions as well as its volume, OP still struggled to make a comeback on the price and metric fronts.
Metrics Show Current State
As per data from CoinMarketCap , OP was exchanging hands 7% lower over the last 24 hours and almost 15% lower in the last seven days. Additionally, as of 28 June, a tweet from blockchain intelligence platform IntoTheBlock stated that OP witnessed a notable uptick in number of transactions. Furthermore, metrics such as weighted sentiment stood at -1.025 while its MVRV ratio also witnessed a dip after peaking on 17 June indicating selling pressure in market.
Current Price of OPs
At the time of writing, OP was trading at $1.199 which is 8% lower than its opening price for the day and Relative Strength Index (RSI) was seen descending further indicating further selling pressure in market.
What Lies Ahead?
It remains to be seen if investor confidence will be enough for Optimism [OP] token to step out of its slumber or does it need more than just that? Only time can tell what lies ahead for this altcoin but currently it seems like it will need more help before seeing any positive returns for investors who have held onto their tokens during this bearish period within crypto markets overall..
Conclusion
Overall, Optimism [OP] has been struggling despite witnessing an uptick in number of transactions and volume over last few weeks but still hasn’t been able to make much progress when it comes to prices or metrics fronts which is why it may need more than just investor confidence boost before seeing major gains going forward..
