{"id":319424,"date":"2023-06-09T19:00:52","date_gmt":"2023-06-09T13:30:52","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=319424"},"modified":"2023-06-09T14:44:05","modified_gmt":"2023-06-09T09:14:05","slug":"gauging-ops-reaction-as-bedrock-goes-live-on-mainnet","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/gauging-ops-reaction-as-bedrock-goes-live-on-mainnet\/","title":{"rendered":"Gauging OP&#8217;s reaction as Bedrock goes live on mainnet"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">The Optimism Bedrock is live on the Optimism mainnet.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Optimism retained the second-largest market share among L2 solutions as OP declined.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">On 8 June, Optimism [OP] declared the official launch of &#8220;Bedrock&#8221; on its Optimism Mainnet. This momentous upgrade, which concluded on 7 June, brought a host of remarkable advancements to the network, as shared by OP Labs. <\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Bedrock is live on OP Mainnet! \ud83d\udecf\ufe0f\ud83e\udea8<\/p>\n<p>This upgrade was a historic moment for Optimism, and the entire Collective came together to make it a success.<\/p>\n<p>Here are some of the things we\u2019re most proud of:<\/p>\n<p>&mdash; Optimism (@Optimism) <a href=\"https:\/\/twitter.com\/Optimism\/status\/1666850591669202965?ref_src=twsrc%5Etfw\">June 8, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<hr \/>\n<p style=\"text-align: center;\">How much are 1,10,100 OPs worth today?<\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">The upgrade focused on three key areas: reducing deposit times, decreasing layer-1 fees, and enhancing security measures.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bedrock aimed to lower gas fees by an impressive 40% by implementing an optimized data compression strategy. This reduction in transaction costs would undoubtedly enhance the overall user experience within the network. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Introducing reorg support signified a significant step towards fortifying the network&#8217;s resilience and robustness.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Beyond these specific improvements, the Bedrock upgrade was an integral part of the developer&#8217;s broader vision to create a revolutionary &#8220;Superchain.&#8221; This vision entailed constructing a network of interconnected chains, all leveraging <a href=\"http:\/\/ambcrypto.com\/optimism-op-briefs-on-new-upgrade-as-arbitrum-arb-leads-in-l2-race\/\" target=\"_blank\" rel=\"noopener\">Optimism&#8217;s<\/a> OP Stack software. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Superchain would integrate these individual chains, enabling seamless communication and collaboration within a unified environment.<\/span><\/p>\n<h3><b>How Optimism compared to other L2s<\/b><\/h3>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/l2beat.com\/scaling\/tvl\" target=\"_blank\" rel=\"noopener\">L2 Beats<\/a> recently revealed that Optimism had secured an impressive position in the market. As of this writing, it held the second-largest market share, accounting for approximately 19% of the market. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, <a href=\"http:\/\/ambcrypto.com\/arbitrum-vs-optimism-taking-a-look-at-who-dominates-the-l2-sector\/\" target=\"_blank\" rel=\"noopener\">Optimism<\/a> had a substantial Total Value Locked (TVL) figure, exceeding $1.6 billion, signifying the platform&#8217;s level of engagement and activity.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to data from Santiment, there had been a decline in the 30-day active addresses metric on Optimism. As of this writing, the number of active addresses within that timeframe hovered around 147,000, displaying a discernible decrease.<\/span><\/p>\n<figure id=\"attachment_319425\" aria-describedby=\"caption-attachment-319425\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Optimism-OP-09.36.40-09-Jun-2023.png\"><img decoding=\"async\" class=\"size-full wp-image-319425\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Optimism-OP-09.36.40-09-Jun-2023.png\" alt=\"Optimism active addresses\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Optimism-OP-09.36.40-09-Jun-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Optimism-OP-09.36.40-09-Jun-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Optimism-OP-09.36.40-09-Jun-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Optimism-OP-09.36.40-09-Jun-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Optimism-OP-09.36.40-09-Jun-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/Optimism-OP-09.36.40-09-Jun-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-319425\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">These figures provided insights into the press time level of interaction and user participation on the platform. Observing how the Bedrock upgrade could shape these metrics will be interesting.<\/span><\/p>\n<h3><b>The surge and decline of OP<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">When analyzing the daily timeframe chart of OP, it became evident that the token experienced a notable surge leading up to the upgrade. On 6 June, it witnessed an impressive jump of 7.72%, reaching a trading price of approximately $1.49. <\/span><\/p>\n<figure id=\"attachment_319426\" aria-describedby=\"caption-attachment-319426\" style=\"width: 1490px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/OPUSD_2023-06-09_09-37-55.png\"><img decoding=\"async\" class=\"size-full wp-image-319426\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/OPUSD_2023-06-09_09-37-55.png\" alt=\"OP\/USD price move\" width=\"1490\" height=\"630\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/OPUSD_2023-06-09_09-37-55.png 1490w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/OPUSD_2023-06-09_09-37-55-300x127.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/OPUSD_2023-06-09_09-37-55-1024x433.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/06\/OPUSD_2023-06-09_09-37-55-768x325.png 768w\" sizes=\"(max-width: 1490px) 100vw, 1490px\" \/><\/a><figcaption id=\"caption-attachment-319426\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\">Is your portfolio green? Check out the <a href=\"http:\/\/ambcrypto.com\/calculator\/optimism-profit-calculator\" target=\"_blank\" rel=\"noopener\">Optimism Profit Calculator<\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">However, since then, the token has been facing a declining trend, ultimately losing more value than it gained during the surge.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of this writing, the token was trading at around $1.3, reflecting an addition of less than 1% in its value. The prevailing trend also appeared bearish, as the Relative Strength Index (RSI) indicated.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Optimism&#8217;s groundbreaking Bedrock upgrade brings efficiency, security, and a vision for a Superchain. Despite a pre-upgrade surge, the OP token faces a bearish trend post-upgrade.<\/p>\n","protected":false},"author":70,"featured_media":319435,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-319424","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gauging OP&#039;s reaction as Bedrock goes live on mainnet - AMBCrypto<\/title>\n<meta name=\"description\" content=\"The Bedrock upgrade recently went live on the Optimism mainnet, intending to reduce fees, but OP is yet to reflect the latest development.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/gauging-ops-reaction-as-bedrock-goes-live-on-mainnet\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gauging OP&#039;s reaction as Bedrock goes live on mainnet - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Optimism&#039;s groundbreaking Bedrock upgrade brings efficiency, security, and a vision for a Superchain. 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