In recent weeks Optimism token has been one of the most trending cryptocurrency assets – in this article we forecast a potential Optimism price prediction and a background of what Optimism token is.
What is Optimism (OP)
Optimism is a fast, stable, and scalable L2 blockchain built by ethereum developers, for ethereum developers. Built as a simple addition to the ethereum software already in use. Optimism’s EVM-equivalent architecture. With no unusual disruptions, Optimism’s EVM-equivalent design expands your ethereum application. If it runs on ethereum, it runs on Optimism for a far lower price. Optimism pledge to uphold the values of ethereum, it was first revealed in June 2019 and mainnet was launched in Dec 2021.
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How Optimism Works
Optimism makes ethereum transactions cheaper and faster, the approach that Optimism is taking to scaling both ethereum and ethereum’s values, and why Optimism is the best place to build your next ethereum-native app.
The design philosophy behind optimism is based on four fundamental principles: simplicity, pragmatism, sustainability, and of course, optimism. Understanding these pillars is crucial since they have a significant impact on the overall layout of optimism.
- Simplicity Simplicity reduces engineering overhead, which in turn means we can spend our time working on new features instead of re-creating existing ones.
- Pragmatism Optimism is also developed with the understanding that any core team will have limited areas of expertise. Optimism is developed iteratively and strives to continuously pull feedback from users.
- Sustainability Sustainability actively influences Optimism’s protocol design in ways that go hand-in-hand with our philosophy of simplicity. The more complex a code base, the more difficult it is for people outside of the core development team to actively contribute.
- Optimism Our optimism about the ethereum vision keeps this project moving forward. We believe in an optimistic future for ethereum, a future where we get to redesign our relationships to the institutions that coordinate our lives.
Optimism: second round of Retroactive Public Goods Funding
The second round of Retroactive Public Goods Funding from Optimism will allocate $10 million OP tokens to the purchase of the public goods. In order to control how this funds are distributed, they are also launching the first version of Citizen’s House. This is the next phase in achieving Optimism’s significant belief that rewarding the community with profit for such individual is fundamental to creating a successful economy.
Today, we’re incredibly excited to announce Retroactive Public Goods Funding Round 2.
In February 2023, 10M OP will be distributed to the people and projects powering the public goods that make Optimism possible. pic.twitter.com/EPaZUrdFIX
— Optimism (✨🔴_🔴✨) (@optimismFND) December 6, 2022
Price Analysis and Optimism Future Predictions
If Optimism token ever comes down between $.55-$.36 again it is very undervalued zone, anywhere between $2 and $2.32 would be a nice profit from current price levels and if it does explode up you’re looking around a 112% increase in the price.
However, what we are currently anticipating is quite reversed, we need a bullish reversal that take us around $1.42, this is another sell zone, its another area of resistance where you could potentially consider taking some profits if you were to buy in today and hold for the next three months.
Is Optimism still bullish?
In terms of long term perspective Optimism looking quiet bullish for a long term hold, $247 million market cap we can certainly see this have a $2.5 to $10 billion by the next crypto bull run, so everything looks excellent.
Future trends will be favorable, and the OP may be an excellent choice for investors looking to make money with crypto. We advise including this virtual currency in your portfolio because of its constructive outlook.
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