- Optimism noticed a large improve in transaction quantity because it trended above its seven-day Shifting Common.
- Optimism [OP] has additionally been attracting a excessive variety of every day energetic addresses.
In keeping with a 16 January tweet by crypto analytics agency Delphi Digital, Optimism [OP] has seen excessive transaction volumes. So far as the info confirmed, solely Ethereum’s [ETH] mainnet had the next quantity of transactions. Additionally, Optimism ranked increased than one other Ethereum Layer 2 community Arbitrum.
Every day transactions on @arbitrum and @optimismFND mixed had been solely 16K transactions in need of Ethereum’s complete every day transactions on January seventh. pic.twitter.com/toXJqNH53i
— Delphi Digital (@Delphi_Digital) January 16, 2023
Learn Optimism’s [OP] Value Prediction 2023-24
Dune Analytics’ every day transaction knowledge evaluation helps present a clearer image of the amount Optimism has been attracting lately. Since December 2022, every day transactions have been on an upward pattern, buying and selling above the seven-day Shifting Common. Nevertheless, the amount of transactions in January surpassed final 12 months, suggesting extra frequent use of the scaling community.
Supply: Dune Analytics
The seven-day shifting common has been breached, and the pattern above it’s now extra significant as a result of growing quantity. The previous week additionally noticed a file excessive in quantity, with every day transactions of round 800,000 seen on the chart.
Optimism Quantity and Energetic Addresses impacted
The Optimism community’s current upward pattern seems to be affecting its native token, OP. Santiment’s knowledge indicated that OP has additionally seen an increase in quantity lately. Trying on the chart revealed that the amount measure was presently at ranges corresponding to these final noticed in November and September of the earlier 12 months.
As of this writing, the amount had already surpassed 200 million, and on 14 January, it had doubled.
Supply: Santiment
In keeping with the info, there has additionally been a big upswing within the variety of energetic addresses through the previous 30 days. For context, there have been lower than 140,000 energetic addresses in November 2022, however by December of that very same 12 months, that quantity had elevated to just about 192,000.
Over 224,000 energetic addresses had been obtainable as of this writing, a big improve from what was obtainable the 12 months prior.
Supply: Santiment
OP value stays bullish…However for the way lengthy?
The pattern line chart confirmed that Optimism had been shifting upward on a every day timeframe. The pattern line has additionally served as assist and resistance as the value has climbed. It was up over 3% as of this writing and buying and selling at roughly $1.7.
Supply: Buying and selling View
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As well as, the Directional Motion Index (DMI) and the Relative Power Index (RSI) indicated that OP was in a bull pattern in a every day timeframe. On the DMI, the plus DI and sign line (inexperienced and yellow line) had been seen above 20, signifying a bullish pattern.
Moreover, the RSI line was seen above 80, which denotes a robust bullish pattern for OP. A possible value correction was additionally signaled by the RSI line, which was in an overbought space.
