🛩️🛩️ OP crashing, watch out if you're catching falling knives🌡️🌡️
The massive dump in OP and the L2 sector isn't just about sentiment—it's a reality check on L2 valuations.
Regarding Optimism, Base is the powerhouse of the OP Stack, accounting for 94% of the Superchain’s fee revenue.
=> Base announcing its own L1 is a total death blow to Optimism's L2 framework. The project's entire revenue model just evaporated with one headline.
This crash might be an immediate knee-jerk reaction to the news. We could see a price recovery driven by the dev team's efforts. However, in the long run, OP is likely to slow-bleed to death as it lacks the revenue to sustain further development.
OPUSDT
Διην.
0.1302
+0.93%