DEX Quantity on OP Community Rises Above $200M Over the Final 24 Hours

• Coinbase’s announcement that it’s constructing its Layer-2 on OP has brought about a surge in DEX buying and selling quantity.
• A tweet made right this moment reveals that the DEX quantity on the OP Community has risen above $200 million.
• The altcoin’s value has skilled a 1.37% drop during the last 24 hours.

Coinbase (NASDAQ:) lately introduced that it’s going to construct its Layer-2 on prime of the Optimism (OP) Community. The Twitter consumer, Patrick | Dynamo DeFi (@Dynamo_Patrick), tweeted this morning that OP’s buying and selling quantity surged following the announcement.

Within the tweet, the Twitter consumer added that decentralized exchanges (DEXs) on the Optimism Community processed greater than $200 million in swaps during the last 24 hours.

Quantity on Optimism community surges (Supply: DeFiLlama)

As will be seen from the display screen shot of DeFi Llama shared within the tweet, the 24-hour quantity on OP DEXs reached $203.89 million. It is a 31.44% improve in OP DEX quantity during the last 7 days. This ranks it beneath Binance Sensible Chain (BSC) and above the Polygon community.

In associated information, the worth of OP skilled a 1.37% drop in value during the last 24 hours in accordance with the crypto market monitoring web site, CoinMarketCap. The altcoin’s value has additionally weakened in opposition to the 2 crypto market leaders, (BTC) and (ETH), by 1.79% and 1.41% respectively. Consequently, the worth of OP stands at $2.85 at press time.

The day by day buying and selling quantity for OP has additionally dropped 43.46% during the last 24 hours. This has introduced the day by day quantity for OP all the way down to $561,369,794.

Every day chart for OP/USDT (Supply: TradingView)

The worth of OP has retraced to the day by day help degree at round $2.707 after pumping to $3.290 on 24 February, 2023.

Along with dropping to the aforementioned help degree, OP’s value can be at the moment resting on a constructive pattern line which was established during the last 2 weeks after OP’s value printed increased highs and better lows throughout this time.

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