Optimism Crypto Price Prediction: Will OP Token Hit $5?

08/15/2022By: L, Laura

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Optimism crypto price prediction shows that Optimism coin could reach $2.18 in 2022, $3.25 for 2025, and the token may hit $5 mark in 2030.

 

Ethereum (ETH), the largest smart-contracts blockchain, has a scalability problem. As more and more users join Ethereum, the network becomes more expensive and slower to use.

In response to Ethereum’s scalability problem, Ethereum ecosystem has come up with a Layer-2 scaling solution with chains working on top of Ethereum mainnet, in addition to the upcoming Ethereum Merge – a move from proof-of-work (PoW) to the quicker and more environmentally friendly proof-of-stake (PoS) system.

Optimism is one of these layer 2 scaling solutions, which is much cheaper to use than Ethereum, and becomes increasingly popular along with other layer 2s.

This article will unlock the most detailed Optimism crypto price prediction for 2022, 2025, 2030 and the years to come. Before we go through that, let’s have a quick review of what Optimism crypto is.

 

What Is Optimism? What Is Optimism Coin (OP)Used for?

Optimism (OP) is an Ethereum Layer 2 (L2) solution focused on providing low-cost, easy-to-use scalability for Ethereum-based decentralised applications (DApps), with aim of making things faster on the Ethereum blockchain.

It was first proposed in 2019, with its mainnet opening in 2021 and its native governance token Optimism (OP) released on 31 May 2022. OP helps fund third-party development proposals and integrations on the Optimism Layer-2 chain, via the Optimism Collective decentralised autonomous organisation (DAO).

Optimism’s backend technology stack is dubbed the Optimistic Virtual Machine (OVM), in reference to Ethereum Virtual Machine (EVM). Since Optimism’s technology closely matches Ethereum’s, all Ethereum-based smart contracts can be deployed on Optimism to take advantage of the platform’s higher transaction speeds and cheaper gas fees.

As the name suggests, Layer-2 scaling solutions use a second layer to help blockchains cope with higher traffic. Imagine the blockchain as a first layer with a separate system running on top of this – your second layer. If you take a transaction from the blockchain, carry it out on the second layer (thus stopping it being slowed down on the blockchain by increased traffic) and then put it back onto the blockchain – that is basically how a Layer-2 scaling solution works.

 

Optimism (OP) Price History

Now, let’s take a look at the Optimism price history. While we must remind you that past performance is by no means any indicator of future results, if we want to either interpret an Optimism price prediction, or else make one of our own, understanding what the token has done in the short time that it has been available to trade can help us with the context.

According to CoinMarketCap, when OP first enters the public market via its first airdrop on May 31, 2022, it was worth $4.57. It looks quite optimistic for this particular price, as the market almost immediately decided it was overvalued and fell to a low of $0.7973 before closing the day at $1.44.

While the initial price is still at an all-time high for Optimism, there have been some changes in the OP token price.

In June, the market was still rocked by the depegging of the UST stablecoin and the collapse of the related Terra LUNA. This was closely followed by a freeze on withdrawals from the Celsius crypto lending platform, which only helped to confirm the bear market. All of this was bad news for the emerging Optimism, which fell to an all-time low of $0.4005 on June 18, less than a tenth of what it was priced at launch.

Then there was some better news, and the token slowly recovered to close the month at $0.5434. In July, the news was initially bad, and the token fell further to a low of $0.4147 on July 13.

Since then, OP has been able to capitalise on a crypto market that is giving some kind of hope by going through a recovery. Towards the end of July the price skyrocketed, going from $0.82 on 26 July to to a closing value of $1.45 on 28 July, making for an increase of 27.75%.

With the expected release of Ethereum 2.0 in September 2022, investors began to deposit up to 40,000 ETH in bulk into Optimism smart contract. This also led to an increase in trading volume, causing OP prices to continue climbing in late July and early August. As of August 11, the price stood at 1.68.

It remains to be seen whether Optimism will be able to maintain its price after the Ethereum Merge.

At the time of writing, 234.74 million OPs were circulating out of a total supply of 4.29 billion, giving it a market cap of about $393.6 million, according to CoinMarketCap. This makes Optimism the 103rd biggest cryptocurrency, an impressive achievement for a token that has been around for just over two months.

 

Optimism Crypto Price Prediction

With that said, let’s take a look at Optimism crypto price prediction. Keep in mind that crypto price forecasts are usually far from the actual price. Moreover, it is likely that long-term crypto price predictions are made using algorithms, which means it can be changed at any time.

First of all, as of August 11, CryptoPredictions‘ Optimistic price forecast for 2022 shows the year closing at $2.028. From there, it’s expected to reach $3.026 in August 2023. A year later, the token is expected to be worth $3.897, and by August 2025 it could reach $4.451. By August 2026, the site predicts that Optimism’s price could reach just under $4.859 before reaching around $4.975 by the end of the year.

UpToBrain has a highly optimistic price forecast for OP, predicting that it could rise to $1.70 this year and continue to $2.45 next year. In 2024, it could reach a price of around $3.59, while the site’s Optimistic crypto price forecast for 2025 is $5.32. By 2026, the token could further increase to around $7.36.

Meanwhile, DigitalCoinPrice‘s Optimism price forecast suggests that the token could rise to $2.18 by the end of 2022, $2.47 for 2023, and $2.51 for 2024. By 2025, OP could be worth $3.25, but the price could fall back to $2.85 in 2026. In 2027, it could have recovered to $4.00 and rise further to $5.53 in 2028. The site estimates OP could close at $7.60 – giving an Optimistic price forecast of up to $7.68 in 2030 – and rise further to $8.55 by 2031.

Finally, Wallet Investor has a positive view of Optimism’s future trend. The site believes that the token could be worth $4.742 by August 2023. It could rise further to $7.613 in 2024 and peak above $10 at $10.528 in August 2025.

 

Optimism Crypto Price Prediction: Conclusion

Before we close, some final points. First, it is important to realize that at the time of writing, OP has been trading on the open market for less than three months. This means we don’t know what its natural level is; newer cryptocurrencies are typically more unstable than established ones.

Secondly, we should point out that while Optimism should get some credit for writing a white paper in clear, easy to understand and plain English, the truth is that while the Layer 2 scaling solution is not the easiest thing for crypto beginners to understand around, there are a lot of them. It’s hard to see what Optimism can do to stand out.

Furthermore, with the Ethereum Merge coming later this year, Optimism and other Layer 2 scaling solutions will likely eventually find themselves redundant.

Finally, when considering Optimism crypto price prediction, it is important to remember that the whole crypto market remains very volatile, making it difficult to accurately forecast the price of a coin or token within a few hours, and even more difficult to give long-term estimates. As a result, analysts and algorithm-based predictors can and do make wrong predictions.

If you are considering investing in crypto tokens, we recommend that you always conduct your own research. Check out the latest market trends, news, technical and fundamental analysis, and expert advice before making any investment decisions. Remember, past performance is no guarantee of future gains. Never invest more funds than you can afford to lose.

 

Frequent Asked Questions

What will be the Optimism (OP) highest forecast price for 2022? 

Optimism has an outstanding potential to reach new heights. The coin is expected to reach a highest level of $2.18 by the conclusion of 2022.

 

How high can OP go by the year 2025?

According to the OP price prediction, the coin can break out of its bearish trends to easily reach the $9.21 highest price mark by 2025.

 

When will the next OP airdrop be?

Optimism said in an April 2022 blog post that there would be “an entire season of airdrops.” The Optimism team did not reveal the date of the airdrops, which are typically announced on short notice.

 

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