Optimism flies higher as Coinbase leverages its tech

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The each day candle now has a top wick that is quite long, thanks to profit-taking. Nonetheless, year-to-date features at the existing rate stand at 218%, a significant increase over the 45% good points observed in the market leader bitcoin.

On Feb. 3, OP’s price was at its all-time high. On Feb. 8, a second rejection occurred, this time at a slightly lower fee of $3.209, highlighting the location that bulls should conquer.

On Feb. 23, crypto company Coinbase announced the launch of Base, an Ethereum layer two that runs on the Optimism chain.

The exchange used a blue circle and the words “2.23.23” to foreshadow an announcement earlier, sending Crypto Twitter into a speculative frenzy.

In a joking post, Adam Cochran mentioned an airdropped Coinbase coin that was once supposed to revive the market from its existing slump.

“We’re pooling a piece of it and making a huge bronze statue of Armstrong with an extra-shiny bald head and sending it to their office,” said the crew if a Coinbase coin airdropped to customers ended up saving the market.

Coinbase did now not make their Base layer two solutions public till Thursday at noon UTC. The Base will use Ethereum as the native gasoline token alternatively than incorporating a token, according to the company.

Optimism spoke back to the report by way of pointing out that Base runs on its OP Stack design, a modular, open-source software that is distinctly scalable and interoperable. A element of the Basic transaction prices should be accumulated by optimism.

Additionally, Optimism added that including Base is another step in the course of the “Superchain” dream.