Optimism (OP) is recording staggering growth in the market today as it has grown by 4% over the last 24 hours to $2,5841 at a time when prices for most protocols are under pressure. Looking promising, Optimism added 10% to its value throughout the week, setting a new pace among competing Tier 2 protocols. OP remains on the list of protocols with a growing ecosystem did.
The fact that the OP was designed to leverage the security of the Ethereum mainnet and help scale the Ethereum ecosystem using optimistic rollups remains one of the key selling points that continue to drive the high growth of decentralized applications to L2.
In its current form, the current bullish Optimism outlook surrounding the OP token can be attributed to its rapidly expanding ecosystem. As shared by the protocol over the past few days, Optimism has welcomed a number of innovations designed to help adapt and boot into the Optimism tech stack.
As Koinfinans.com reported, one of these innovations is the release of Magi, a brand new OP Stack rollup client written in the Rust programming language. Magi was developed by a16z Crypto and is designed to help increase customer diversity and the resilience of the entire OP Stack ecosystem, according to the announcement.
Welcome, Magi! 🟠🔴🔵
This announcement marks a significant milestone for L2 client diversity. We’re grateful to @noahcitron, @eddylazzarinand @a16zcrypto for this contribution to the Optimism ecosystem.https://t.co/5gErl0pbcv
NEWS CONTINUES BELOW— OP Labs (@OPLabsPBC) April 19, 2023
The fuss in the Web3.0 tech ecosystem is, for now, especially EthereumIt is based on expectations of Layer 2 protocols, especially those in . While Optimism is still in tight competition with platforms like Arbitrum (ARB) and Polygon zkEVM, it has greatly benefited from the responsiveness associated with all these protocols.
OP has maintained its position as one of the most capitalized Tier 2 protocols, and even if other competitors outpace it in terms of technology scalability and fees, token performance and economics remain key banners that investors always rely on to prioritize over other chains.