DEX Quantity on OP Network Rises Above $200M Over the Closing 24 Hours

• Coinbase’s announcement that it's miles building its Layer-2 on OP has resulted in a surge in DEX trading volume.
• A tweet made this day displays that the DEX volume on the OP Network has risen above $200 million.
• The altcoin’s tag has skilled a 1.37% tumble over the closing 24 hours.

Coinbase (NASDAQ:COIN) no longer too long ago launched that this would possibly create its Layer-2 on top of the Optimism (OP) Network. The Twitter user, Patrick | Dynamo DeFi (@Dynamo_Patrick), tweeted this morning that OP’s trading volume surged following the announcement.

In the tweet, the Twitter user added that decentralized exchanges (DEXs) on the Optimism Network processed greater than $200 million in swaps over the closing 24 hours.

Quantity on Optimism community surges (Provide: DeFiLlama)

As would possibly even be seen from the masks shot of DeFi Llama shared within the tweet, the 24-hour volume on OP DEXs reached $203.89 million. This is a 31.44% enlarge in OP DEX volume over the closing 7 days. This ranks it under Binance Lovely Chain (BSC) and above the Polygon community.

In connected news, the tag of OP skilled a 1.37% tumble in tag over the closing 24 hours per the crypto market tracking web page, CoinMarketCap. The altcoin’s tag has also weakened in opposition to the 2 crypto market leaders, Bitcoin (BTC) and Ethereum (ETH), by 1.seventy nine% and 1.41% respectively. Which implies that, the tag of OP stands at $2.85 at press time.

The each day trading volume for OP has also dropped 43.46% over the closing 24 hours. This has brought the each day volume for OP down to $561,369,794.

Each day chart for OP/USDT (Provide: TradingView)

The cost of OP has retraced to the each day toughen diploma at round $2.707 after pumping to $3.290 on 24 February, 2023.

Besides losing to the aforementioned toughen diploma, OP’s tag would possibly even be for the time being resting on a fair pattern line which turned into established over the closing 2 weeks after OP’s tag printed greater highs and better lows throughout this time.

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