OP, the native token of a Layer-2 Ethereum scaling solution Optimism, is seeing strong 10% upside, following the latest listing on South Korea’s crypto exchange Upbit. This new listing has resulted in a massive liquidity boost, pushing the Optimism price above $0.80 with daily trading volumes shooting 200% to more than $340 million.
Upbit, one of South Korea’s largest crypto exchanges, announced the listing of Optimism (OP), a Layer 2 scaling solution for Ethereum, on its platform. The crypto exchange stated that the trading will start on July 28, 16:30 KST, with deposits and withdrawals available within two hours following the announcement. OP token will trade against KRW, BTC, and USDT pairs.
Following the new exchange listing, OP got the much-needed liquidity boost, with a sharp surge in price and trading volumes. Sentiment on social platforms has turned bullish, driven by positive sentiment around recent ecosystem upgrades and upcoming DeFi launches. With the US-EU trade deal, Bitcoin and other digital assets are also seeing upside today.
With today’s Optimism price upside, the OP token has recovered from last week’s losses. The Ethereum Layer-2 token participated in the crypto market rally in July and is already up 52% on the monthly chart. This puts OP among the top DeFi coins currently on investors’ radar.
Another reason behind the Optimism price recovery is the latest upgrade with smart contracts changes, etc. The new Superchain Upgrade 16 introduces key smart contract changes aimed at advancing interoperability across the Superchain ecosystem.
The update strengthens the network’s decentralization and security posture, aligning OP Mainnet, Base, Mode (Ink), and Zora (Unichain) with L2Beat’s updated Stage 1 criteria for Layer-2 chains.
Besides, the update also includes technical improvements to the OP Stack. Thus, it notably increases gas limits to 500 million per block, enabling greater transaction throughput and scalability across supported chains.
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