OP Token Slides 5.5% as Base Network Exits OP Stack Despite $160M Growth and Major Purchases

OPUSDT has experienced a 5.50% price decline in the past 24 hours, opening at 0.1290 and currently trading at 0.1219 on Binance. The main contributors to this downward price movement are Base network’s announcement to exit the OP Stack and redirect sequencer fees, which introduced uncertainty for the Optimism ecosystem, alongside a decrease in trading volume. The migration of ether.fi’s card business to OP Mainnet added over 300,000 accounts and increased total value locked by $160 million, offering positive network growth but not enough to offset bearish sentiment. Significant recent purchases of 5.71 million OP and a scheduled token unlock of $3.93 million worth of OP for February 28, 2026 were noted, but these developments have not reversed the short-term negative trend. Trading volume remains substantial with Binance recording 96.87 million OP in the last 24 hours, while the market capitalization estimates vary widely, reflecting differences in circulating supply calculations. Optimism continues to be a key Layer 2 scaling solution for Ethereum, and the OP token is used for governance of the network.