OP Token Plunges 18% as Base Exits Superchain and Ether.fi Cash Migrates to OP Mainnet

OPUSDT experienced a significant price decline in the past 24 hours, with the Binance price dropping from 0.1880 to 0.1533, representing an 18.46% decrease. This price movement is largely attributed to the recent announcement of Base, a major Layer 2 network, transitioning away from the Optimism Superchain to its own software stack, which has impacted sentiment and caused notable long liquidations in the market. Additional volatility was driven by the migration of Ether.fi Cash to OP Mainnet, introducing increased activity and total value locked, alongside heightened trading volume and divided trader outlooks.

Currently, OPUSDT is trading at 0.1533 with a 24-hour trading volume reported at up to 67.02 million USDT and a market capitalization ranging from $682.25 million to $792.49 million. The circulating supply stands at 4,188,211,160 OP, and the fully diluted market cap is estimated at approximately $699.65 million. The asset has shown high volatility and increased market activity, reflecting the impact of ecosystem developments and shifting investor sentiment.