Many people are inboxing me asking why the Optimism OP token is going down so much?
The main reason for the sudden downfall of the OP token is the news that Coinbase (Base) changed its dependency on Layer-2 from their previous OP Stack. Base was previously a major partner of Optimism, so after this news came, fear arose among investors and selling pressure increased. Along with the weak market + increasing futures short positions, the dump has become even greater.