According to CoinGecko, the token is up more than 24% since last week which is currently supported by the strong bullish sentiment present within the market. Related Reading: Bitcoin Floor: CEO Predicts $38,000 Will Be The Lowest BTC Goes However, Optimism might have more surprises as the platform announces a major partnership that may turn the tide for Optimism with Sony entering the Web 3 and crypto space with Soneium, a venture with Startale Labs. Sony Enters Web 3 With Soneium In a press release yesterday, Sony announced the creation of Soneium, their first venture into the Web 3 and crypto space.
But OP’s high market correlation with BTC might be a double edged sword for the token. Related Reading: Floki Has More Room To Climb,’ Targets 96% Rally – Analyst As time progresses, BTC might face some resistance on its upward trajectory, possibly returning to sustainable levels in the short term.
Being in a narrow trading range, the bulls have little wiggle room to grab gains, moving the bullish breakthrough in the next few weeks or months. However, the positive developments might shorten this timeframe by a couple of days as long-term speculators enter the market.
The story "Optimism: Major Partnership Pushes OP Price By 24%" has 409 words across 68 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "Optimism: Major Partnership Pushes OP Price By 24%" was covered 13 hours ago by NewsBTC, a news publisher based in United Kingdom.
How trustworthy is 'NewsBTC' news outlet?
NewsBTC is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United Kingdom and publishes an average of 5 news stories per day.
It's most recent story was published 14 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Negative, indicating that people regard this as "bad news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.