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February 22, 2024
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Is Optimism (OP) The Next 50x Altcoin? Here’s What Crypto Expert Predicts

The post Is Optimism (OP) The Next 50x Altcoin? Here’s What Crypto Expert Predicts appeared first on Coinpedia Fintech News

The rising popularity of Optimism (OP) has taken the crypto world by storm, as Bitboy Crypto, also known as Ben Armstrong, highlights in his latest video.

According to him, Optimism is poised to become a strong competitor to Polygon in the upcoming bull run. Additionally, a new partnership may provide Optimism with the necessary impetus to ascend to greater heights.

Andreessen Horowitz Backs Optimism

Optimism has been making waves recently, with its price increasing by 161% over the last year. This is due in part to the backing of major investors such as Andreessen Horowitz, who led Optimism’s $25 million Series A investment round back in February 2021. This investment has allowed it to pursue its goal of achieving lower fees, lower latency, and greater throughput compared to transacting on Ethereum.

Coinbase Launches Layer 2 Blockchain Base on Optimism

Another major player that has shown support for Optimism is Coinbase, which launched its layer two networks, Base, using Optimism’s op stack earlier this year. This move has attracted millions of new crypto users to the ecosystem and has helped to drive up the value of Optimism’s native tokens.

Optimism’s Competitors

In terms of competitors, Optimism is up against another layer two networks on Ethereum, such as Polygon and Arbitrum. While Polygon is currently the most active network, Armstrong predicts that Optimism will be the biggest mover in the next two years.

Coinbase has also recently launched a Wallet as a Service, which is set to offer users a secure and easy way to store and access their Web3 wallets. This move is expected to be a major boost for Optimism and its transaction volumes, as Coinbase is the largest exchange in America and one of the most trusted names in crypto.

The future looks bright for Optimism, and its partnerships with major investors and companies like Coinbase have given it the resources and credibility it needs to succeed. As Armstrong puts it, “anything that Andreessen Horowitz and specifically Mark Andreessen touch pretty much turns to gold.” With these major players backing it, Optimism is poised to take the world of decentralized finance by storm.

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