Optimism OP Coin Skyrockets Following Bedrock Upgrade Announcement

In a recent tweet, the Kucoin crypto exchange announced that the Layer2 network, Optimism, is preparing for its highly anticipated Bedrock Upgrade. The upgrade is expected to revolutionize Optimism by enhancing scalability, security, and efficiency, ultimately shaping the future of Ethereum.

?? Layer2 network Optimism is gearing up for the Bedrock Upgrade soon!

?? Discover how this game-changing update boosts scalability, security, and efficiency for Optimism, and what it means for the future of #Ethereum.#Optimism $OP #Layer2 #EIP1559

— KuCoin (@kucoincom) June 2, 2023

The Bedrock Upgrade, set to launch next week, will introduce lower protocol and security fees for users on the Optimism platform. Optimism’s recent blog post highlighted that the upgrade could result in a staggering 47% reduction in protocol and security costs.

This development has already positively impacted the ecosystem’s governance token, OP, which experienced a modest 3.7% increase in price over the past 24 hours. This upward movement comes after a challenging month for OP, during which the token’s value dipped by over 30%, according to data from the popular market tracker, CoinMarketCap.

A crypto influencer shared an analysis on Twitter, stating that OP has successfully broken the downtrend resistance at $1.34. According to his prediction, a reversal is underway, with potential price targets for Optimism’s token ranging between $1.80 and $2.20 in the next 15 days.

$OP break the down Trend resistance at 1.34$ and now reversal started soon #Optimism hit in between 1.8-2.2$✅ in next 15 days if you hold #opcoin for long term like 3-6 months it’s possible to hit the price above 4$ but it’s completely depends on #bitcoin chart ? #Crypto to… pic.twitter.com/hAzbsgN82b

— Crypto GVR (@GVRCALLS) June 4, 2023

For long-term holders of OP coin, the influencer suggests that if held for a period of 3 to 6 months, there is a possibility for the price to surpass $4. With this optimistic analysis from a crypto influencer, investors are hopeful that the positive momentum surrounding OP will continue, potentially leading to significant gains in the near future.

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