Optimism OP

What OP actually is on-chain

Optimism is an ERC-20 deployed on Optimism, at contract address 0x4200000000000000000000000000000000000042. That address, not the ticker OP, is what uniquely identifies this asset: anyone can deploy a second token calling itself OP, but the contract is unforgeable. Verify it against optimistic.etherscan.io before sending funds or approving a spend.

Because it lives on Optimism, OP is held in any EVM-compatible wallet, transfers are paid for in ETH rather than in OP itself, and secondary liquidity sits in Velodrome and Uniswap pools. Two consequences follow for anyone setting alerts: you need ETH in the same wallet to move the token at all, and a quoted price taken from a pool is a pool price — it includes slippage that an order-book quote would not.

Another asset tracked on this site also uses the ticker OP: One Path (Base, 0x5b8a…8e40). The asset on this page is specifically the Optimism deployment at 0x4200…0042. These are unrelated tokens with separate contracts, separate supply and separate price histories — a price alert set on one of them says nothing about the others, and a ticker search is not enough to tell them apart.

For OP the project publishes a whitepaper, a public source repository and an active account as @Optimism. Both a written specification and readable code exist, which is a materially higher bar than most assets in this size range clear. None of it is a quality judgement about the asset; it is simply what can be independently checked before the chart is worth looking at.

Where OP sits in the market

#147 places Optimism in the top of the mid-cap band. Liquidity is already fragmented at this depth: a large share of real OP volume can sit on two or three venues, so a quote on a secondary exchange may lag the primary market by seconds and by more than a basis point. Position size matters more than entry timing here.

CryptoPingAi is currently streaming 5 live OP order books (Binance, Gate.io, HTX, Upbit, Bithumb). That is coverage in line with a #147 ranking: enough books to cross-check a quote, few enough that one of them can dominate price formation for hours at a time. One of them is a Korean won market, so the Kimchi-premium spread between the KRW and USDT quote is visible on this page.

OP against its all-time high

OP is more than 95% below its all-time high of $4.84 (on 2024-03-06) — a 47.3x gap. At this point the record has essentially no analytical value: it belongs to a different supply structure, a different holder base and often a different market cycle. The useful reference for OP is the downside, not the peak, so the range section below matters more than this one. That high was set 3 years ago, recently enough that it still anchors how most current holders frame the asset.

OP across its historical range

The recorded range runs 48.4x, from $0.1001 to $4.84 — wide by the standards of traditional assets, moderate for this one's class.

OP is within 2.3% of its all-time low of $0.1001, printed on 2026-03-29. This is the part of a chart with no history: there is no prior trading below this level, so there is no support to reference, no volume shelf and no cost-basis cluster to lean on. Because that low is itself recent, the asset is in an active downtrend rather than sitting at an old floor — each new low invalidates the previous one as a reference.

OP supply structure

OP is capped at 4.29 billion OP, of which only 2.15 billion is circulating — 50.1% issued, leaving 2.14 billion still to come. At that ratio the emission schedule is a primary driver of the supply story, not a footnote: new supply arrives continuously and has to be absorbed by new demand before price can hold a level.

What kind of asset OP is

Optimism is a base-layer network, so OP is simultaneously the chain's security budget and its unit of account rather than a claim on a business. Its ecosystem is real but mid-sized — 125 tracked tokens carry the tag — which puts it in the contested middle of the layer-1 field, where the risk is not failure but stagnation: losing developer share to a larger chain is a slow process that rarely shows up in a single price move.

CoinGecko files OP under 10 categories, including Optimism Ecosystem, Layer 2 (L2), Paradigm Portfolio, Rollup, Andreessen Horowitz (a16z) Portfolio. Worth flagging from the metadata: OP appears in the Paradigm portfolio, and appears in the Andreessen Horowitz (a16z) portfolio.

How to set a Optimism alert that is worth receiving

Optimism is the ERC-20 at 0x4200…0042 on Optimism — quoted on 5 venues we stream — high dated 2024-03-06 — rank #147. On this profile the condition that carries signal is thresholds anchored to the recent range rather than to the all-time high.

Full alert-design method: thresholds, RSI/MACD and volume conditions →