OP Price Prediction: Can the next upgrade save this coin?

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After two days of losses, the cryptocurrency market appears to be preparing for a new bullish breakout on Wednesday. Coin prices are on the rise as investor sentiment seems to be shifting once again in favor of the market, and the OP’s network optimism asset asset is becoming more attractive.

Which coins can provide investors with the ideal gains they desire as they seek the best returns?

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OP price action

Wednesday came with some impressive gains for the market. After sliding below the $1 trillion mark in market cap earlier this week, crypto has rallied fairly quickly and is now back at the $1.03 trillion line.

The gains mainly come from the large coins, which bring higher profits to the investors. However, the OP Token has also seen more gains in the same period. Trading at $2.38, the OP price is up 9.02% in the last 24 hours.

That’s enough to outperform the market and many relatively larger assets, but its seven-day performance wasn’t impressive. The layered scaling solution has lost 21.1% in the past week, and that’s the end of its losses.

The governance token has gained 31.04% in the past four weeks, and its six-month performance has been similarly positive, with gains of 99.58%. Its year-to-date (YTD) growth has also been phenomenal, with a 159.8% increase in the same period.

Unfortunately, the OP’s gains haven’t helped his techniques significantly. It tracks all moving average (MA) indicators, ranging from the 10-day moving average at $2,387 to the 200-day moving average at $2,525.

The negative Moving Average Convergence Divergence (MACD) indicates a sell signal, and the Relative Strength Index (RSI) at 62.59 clearly shows that the asset is approaching the overbought level, indicating a strong positive investor sentiment.

While the OP’s long-term technical performance has been disappointing, its strong fundamental presence may be a key indicator of stockpiling the asset for the long term.

Optimism group for promotion

Optimism is a fast and scalable blockchain network designed as a Layer 2 backing solution for Ethereum. Its goal is to allow decentralized application (dApp) developers to build on top of Ethereum without dealing with some of the platform’s scalability challenges.

Optimism users can process transactions and make micro payments on the network using the OP token. And as Ethereum usage grows, so too does optimism network adoption, which leads to gains for the OP.

The Optimism network has seen some impressive fundamentals heading into 2023. First, it was reported that Optimism and Arbitrum processed more transactions in 2020 than the Ethereum mainnet. This shows a growing adoption of both metric networks, comforting the notion that they will become obsolete after Ethereum merges.

A couple of weeks ago, the network’s developers announced plans to significantly upgrade it. The network upgrade, called Bedrock, is expected to come in March. It will provide additional scalability with enhanced speed, lower transfer costs, and added compatibility with the Ethereum Virtual Machine (EVM), ensuring developers have better access to the largest blockchain on the market.

We are very excited to be putting this historic proposal in front of Token House. We see Bedrock as the culmination of years of research and development – and the next critical step towards a modular, streamlined and efficient multi-chain future. https://t.co/urk6U9aABj pic.twitter.com/ebxsvtBM8N

Optimism (✨🔴_🔴✨) (OptimismFND) February 1, 2023

The rising function of optimism is expected to drive the OP token price further. However, it should also be noted that the asset’s prospects will be highly dependent on market dynamics. The performance of individual assets is easily affected by the performance of the broader market, and as the market continues to try to shake off its recent downward momentum, anything is possible.

OP’s alternatives to consider

While the OP symbol looks attractive, the asset’s dependence on market direction means it can still move sideways. However, investors may want to consider other currencies with higher returns. One of these is MEMAG, the original token of the Meta Masters Guild.

The Meta Masters Guild is a new play-to-earn (P2E) Web3 gaming guild and mobile gaming ecosystem powered by Metaverse. The Guild aims to develop entertaining and addictive games using non-playable non-fungible tokens (NFTs), where community members can earn rewards, participate and trade.

Joined #MEMAGFAM now!

Only 3 days left until the end of the pre-sale! ⏰💰

get yours $MEMAG Tokens and earn as you play!# Pre-sale #Play2Earn # encrypt pic.twitter.com/i7zjYGDaGq

Meta Masters Guild (MEMAGgames) February 14, 2023

The MEMAG token is currently in its final stage of pre-sale and has raised over $4.47 million, with only two days left until completion. Interested investors can purchase 1 MEMAG for 0.023 USDT.

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