Cryptocurrency units have seen significant increases, with many altcoins reaching record levels recently. Optimism (OP) has also seen the highest number of profit holders ever. In addition to the increase in profit supply, various fundamental indicators have also risen in the last 24 hours.
Optimism’s Analytical Reports
According to IntoTheBlock’s data, all Optimism addresses are profitable for the first time in history. As of March 5th, data revealed that 1.06 million addresses, making up 100% of OP holders, were profitable. This could mean that all addresses holding OP at various price levels can now benefit from their investments. A more detailed analysis of Santiment’s crypto analytics firm data showed that the total OP supply in profit approached 4.3 billion at the time the report was prepared.
This situation could indicate a share of approximately 99.9% of the total supply. Cryptocurrency experts analyzing the charts have discovered a significant increase in the total profit supply around November and that this upward trend continued to reach the current record high. A detailed analysis of Optimism’s volume revealed a record-breaking performance on March 5th. The volume chart showed a peak of $1.26 billion that day, marking the highest volume in months.
Trading Volume on OP
The last notable increase occurred in July and reached $1.4 billion. However, at the time of writing, the volume continued to rise, reaching $1.28 billion. This was the first time Optimism had consecutive volumes exceeding $1.2 billion over months, which could indicate a significant increase. A daily analysis of Optimism provides insights into why all addresses have become profitable. On March 5th, OP closed the day with a 15.43% increase, above $4.5.
This could indicate a significant daily increase not seen since December, when OP experienced increases of over 37% on December 22nd and over 14% on December 27th. Additionally, at the time of writing, OP was trading around $4.4, reflecting a slight decrease of 0.8% in value. Despite the mentioned drop, the relative strength index (RSI) was approaching 70 at the time of writing, suggesting it could maintain a strong bullish trend.
