Optimism Flourishes Amidst ‘OpenSea’ Opportunities, but OP

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Optimism (OP), a layer2 scaling solution, is the latest to onboard OpenSea’s multiple blockchain integration. The NFT marketplace revealed about working with the OP team and other projects on its marketplace for a while.

Optimism is the 6th blockchain to join the marketplace, following its latest Arbitrum support. Surprisingly, it could appear that the addition was timely. That’s because nearly all OP collections witnessed lucrative surges in sales volume over the past 24 hours.

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According to OpenSea’s information, Early Optimists boasted 438 sales, translating to 6ETH.

Meanwhile, Optimists Quest noted a 21% trading volume surge to 5 ETH as several others recorded trading volume rallies. This increment can seem some investors that trust the debates around a layer2 seasons might be accurate.

Nevertheless, this data represented the collection’s performance in all non-fungible marketplaces with OP tokens. Before now, Optimism had most of its NFT trades on the Quixotic network.

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Dune Analytics revealed that Quixotic is the most renowned OP marketplace and outpaced OpenSea in sales volume. That could be logic as OpenSea support happened.

Not Everywhere Clear

Besides the ‘optimistic response,’ OP price appeared not in synchronization. Coinmarketcap data shows AP lost 9.51% within the past day to $0.87. On the volume front, OP lost some value in that timeframe.

Messari revealed that OP’s 24hr trading volume stood at $22.63m, despite exploring the $261 million highs on July 29.

Evaluating active addresses, Optimism registered a substantial uptick until September 24. Nevertheless, Santiment confirmed the OpenSea integration didn’t appear as a massive rock to support another upsurge.

According to on-chain data, Optimism’s active wallets dropped to 7,180 during this publication. Also, the network’s growth did not appear attractive.

Santiment confirmed the peak of the highlighted data also plunged to 1,114. Lastly, remarks from the Optimism community seemed to be waiting for the update.

According to responses from OpenSea’s announcement, a substantial figure of the cryptocurrency community trusted that including Layer2 networks to NFTs was the correct step.

In that context, anticipation remained that more Optimism traders start utilizing OpenSea to complete transactions.

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Editorial credit: FellowNeko / shutterstock.com

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