The cryptocurrency space is currently witnessing a remarkable surge in the performance of various altcoins, with Optimism (OP) standing out for its unprecedented profitability among holders. The digital asset has registered a historic peak in the number of addresses in profit, coinciding with a significant upswing in trading volume.
Unprecedented Profitability for Optimism Holders
Latest data suggests that all addresses holding Optimism now find themselves in profit, a milestone that showcases the growing investor confidence in the token. Analytics from IntoTheBlock demonstrate that every single one of the 1.06 million OP addresses were in a profitable state as of March 5th. Furthermore, research from analytics firm Santiment highlights that nearly the entire OP supply is yielding gains for its holders.
Spike in Optimism’s Trading Volume
The trading activity for Optimism has also seen a remarkable boost, with the digital asset achieving its highest trading volume in recent months. March 5th marked a significant apex in this trend, with the trading volume reaching a staggering $1.26 billion. These figures represent a consistent climb over the past months, underlining the heightened market activity around OP.
A daily snapshot of OP’s price movement further explains the uptrend in profitability. On March 5th, the cryptocurrency concluded the day with a notable 15.43% price increase, pushing the value above $4.5. This substantial surge echoes past gains OP noted in December, indicating a potential sustained bullish momentum for the token.
Despite a slight pullback in price at the time of reporting, trading around $4.4, Optimism still shows signs of maintaining a robust upward trajectory. The relative strength index (RSI) nearing 70 points to a strong ongoing interest in the asset and suggests that the upward trend might have enduring power.