Optimism led Layer 2 gains as the broader market rebounded, with OP posting the biggest price jump among L2 tokens. CoinMarketCap shows OP climbed more than 13% over the past 24 hours, while trading volume surged over 140% to top $200 million. That pushed the volume-to-market-cap ratio to roughly 29%, signaling ample liquidity for active trading. At press time, OP ranked fifth for performance among the top 100 coins by market capitalization. On-chain activity mirrored the price strength. Activity on Optimism’s Superchain has been rising since early 2025 and picked up further in 2026. Token Terminal data put daily transactions above 2.5 million, and the cumulative transaction count was nearing 1 billion (about 921.9 million at the time of writing). In the L2 market cap race, Optimism remains among the largest projects. Mantle held the biggest share at 39.8%, followed by Arbitrum One at 13.6% and OP Mainnet at 9%. Numerically, OP Mainnet’s fully diluted valuation exceeded $1.3 billion according to Token Terminal. Technically, OP recently cleared the neckline of an inverted head-and-shoulders pattern at $0.3388 — a classic reversal setup — suggesting a shift away from a bearish structure. Momentum indicators supported the move: the MACD showed bullish readings and the Stochastic RSI pointed higher, while the RSI lingered near oversold levels, implying potential room for further upside. If OP can hold above the $0.3388 breakout zone — ideally retesting and maintaining that level — the next target could be about $0.45 (TradingView). However, failure to hold the neckline would undermine the bullish case and could send price back toward the shoulder area near $0.28 or the head at $0.25. A possible catalyst for a stronger rally is a reported 12-month buyback proposal; buybacks typically reduce circulating supply and can amplify upward moves if demand persists (as previously reported by AMBCrypto). Disclaimer: This piece is informational and not investment advice. Cryptocurrency trading carries high risk; do your own research before making financial decisions. Sources: CoinMarketCap, Token Terminal, TradingView, AMBCrypto. Read more AI-generated news on: undefined/news