Here's Why Altcoins Popped and What Dropped This Week
The momentum higher ended quickly for some of the hottest altcoins this week.
Keep up with what's happening in the crypto world in real-time.
The momentum higher ended quickly for some of the hottest altcoins this week.
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Ethereum (ETH), the second-largest cryptocurrency and the world's leading smart contract platform, has achieved a significant milestone, surpassing 400,000 daily active users. This surge in user activity comes as decentralized finance (DeFi) applications, non-fungible tokens (NFTs) and other decentralized applications (dApps) continue to gain traction within the Ethereum ecosystem.
These four low-cost, high-upside cryptos are better long-term investments than meme coins.
OP Stack's latest fault-proof system has landed on OP Sepolia, the final testing sphere before mainnet.
Optimism price forecast: OP, a prominent layer-two blockchain built on Ethereum, has experienced a notable surge in its value over the past 24 hours, showcasing a robust performance in the cryptocurrency market. The value of Optimism Coin has soared by more than 8%, reaching $3.48, indicating a bullish trend ahead.
The Optimism (OP) price is on the verge of making a potential comeback after noting a 30% correction over the last few days.
OP Labs released fault proofs on the OP Sepolia testnet, planning future implementation on the OP Mainnet.
Optimism begins testing its new fault proof system on Ethereum's Sepolia network to enhance security and decentralization.
A version of the new proof system, which will help secure withdrawals from Optimism and other networks based on its tech, will be deployed to Ethereum's Sepolia test network on Tuesday.
Despite being a beneficiary of last week's upgrade, OP got off to a rocky start on the charts.
RACE launches a blockchain platform for tokenizing assets, offering transparent and secure global investment opportunities.
TAO, HNT, OP, KAS and AXL are the altcoins with the lowest weekly performance.
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Optimism introduces major updates to Fault Proofs, affecting withdrawal processes for bridges and exchanges on OP Mainnet and OP Sepolia.
OP Labs will upgrade the OP Sepolia testnet with new fault proofs.
The Dencun upgrade has led to heightened volatility for Layer-2 tokens.
However, despite the optimistic outlook, QCP Capital predicts a potential price drop for Ethereum (ETH). As a result, ETH has declined by over 2%, with OP also dropping by more than 4%.
Since the Dencun upgrade, L2s have already seen a decline in transaction fees.
Ethereum's recent Dencun upgrade has significantly reduced transaction fees across various Layer 2 (L2) networks.
Ethereum Layer-2 networks Base and Optimism have been marveling at the impact of Dencun, including less-than-a-penny transaction fees.
AEGIS token, associated with the Aegis AI smart contract auditing platform, experienced a significant surge, marking a 92% increase within the last 24 hours, reaching a peak at $0.2987.
ARB token has gained 11% and OP has climbed 4% in the past day.
With the Ethereum price scaling above $4,000 and reaching a market cap of almost half a billion dollars, the altcoin is booming. Further, with the rising momentum of the overall market, with the BTC price crossing the $73,000 mark, the layer-2 token sector is on the rise.