Optimism (OP) Hits Multi-Month High in Net Inflow as Upbit Listing Sends Price Skyrocketing

Layer-2 (L2) Token OP is one of the top-performing tokens today. Its price has increased by nearly 15% in the past day, thanks to news about its listing on Upbit.

On the daily chart, OP has created the largest green candle in the past five days. This indicates an increasing price momentum and confirms strong buying interest from traders.

OP Surges on Upbit News: Price and Trading Volume Increase Significantly

South Korea's largest cryptocurrency exchange, Upbit, announced the listing of OP trading pairs with KRW, BTC, and USDT today. This listing has increased attention to the token, triggering a buying wave that pushed OP to its highest level in five days at the time of writing.

In the past 24 hours, OP has increased by 13%, ranking among the best-performing assets in the market today. This double-digit price increase is supported by a 225% surge in trading volume, which has risen to $455.36 million at the time of writing.

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When asset price and trading volume surge, this indicates strong market interest and confirms price movement strength.

Like OP, high volume during a price increase suggests that the price surge is supported by genuine demand rather than short-term speculation. This combination indicates price momentum and suggests potential additional value for the L2 token.

Moreover, OP's net flow is currently at its highest level in months at $9.56 million, a sign of increasing demand and growing trading activity around this altcoin.

According to Coinglass, the net flow into the OP spot market has increased by over 1000% in the past 24 hours. This trend emphasizes significant capital shift into the token since the Upbit announcement.

OP Surges Strongly, but Correction to $0.69 Threatens if Demand Decreases

OP's positive price action, increased trading volume, and net flow data suggest the token may continue to rise in the short term if market momentum is maintained. In this scenario, the token's price could break the resistance level at $0.84 to reach $0.95.

However, OP risks losing some recent profits as profit-taking begins. A decline in new demand for the altcoin could push the price down to $0.69.