Kraken crypto exchange, one of the most popular American crypto exchanges, has listed another fairly new cryptocurrency on its platform. According to the statement made by the stock market Optimism (OP) The crypto, known as KoinFinans and recently listed by Coinbase, OKX, and KuCoin as noted by KoinFinans, will now be available for trading and futures contracts on Kraken.
Kraken announced the new development on Twitter, noting that futures contracts with OPs are already in operation on the popular trading platform. Futures contracts allow a trader or investor to interact with the asset without directly owning it.
📣 New Kraken Futures listing:
✅ Optimism ($OP) futures contract live now!
Get exposed to $OP without owning the underlying asset. Transfer USD, USDC, USDT in your Futures wallet now to get started.
*Geo restrictions apply
➡️ https://t.co/krfmPA0Lji pic.twitter.com/BVurpOYaaa
— Kraken Exchange (@krakenfx) June 3, 2022
The exchange also explained to users how to start their journey of trading OP futures contracts on Kraken. To open OP futures contracts on Kraken, users must first deposit their USDT, USDC or USD into the exchange’s futures wallet. These funds act as collateral.
What is optimism?
According to the information on the website Optimism (OP)is a layer-2 protocol and smart contract platform that aims to make Ethereum (ETH) transactions low cost and almost instantaneous. To Ethereum Virtual Machine (EVM) prides itself on being equal, which means that any program that works with EVM will also work with Optimism.
The native token of the platform, OP, is used for management and allocation of network resources.
We’d also be remiss if we didn’t take a moment to share some of the Optimistic support from the community as we worked to keep the ship running.
If you’re not in the Optimism discord: come through for immaculate vibes ❤️https://t.co/E0HgRhMCBM
— Optimism (✨🔴_🔴✨) (@optimismPBC) June 1, 2022
OP Market Rank
A quick look at the OP’s market rankings on CMC reveals that the cryptocurrency had a relatively stable day, falling more than 23 percent after the listing. Despite this, the price of the altcoin, which lost some of its gains, is currently trading at $1.36, down 5% daily.
The trend cryptocurrency has surged 18% in volume over the past 24 hours, reaching $628 million, currently taking its place at #2807 on the charts. However, according to statistics, its circulating supply with 214,748,364 tokens Optimism token sThe diluted market capitalization is around $5.98 billion.
Normally, once a crypto is listed on an exchange, its price tends to increase. However, these price increases do not last long, as the crypto market is currently going through a period of uncertainty. However, it is not yet clear whether Optimism, a fairly new coin, will follow this trend.
Ethereum scaling project Optimism’s new OP token‘s dropped more than 70 percent in the same day after being released via a community airdrop on Tuesday.
The highly anticipated airdrop was met with significant disappointment in the Optimism community, as panicked users complained that some claimants were able to collect their tokens before the official airdrop launch.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.