- Active addresses dropped by over 50%, but transactions held above 900K, indicating user concentration.
- Exchange inflows rose while short liquidations spiked, signaling possible sell pressure and volatility.
At the time of writing, Optimism [OP] was trading at approximately $0.604. Daily active addresses on Optimism spiked by 26% in the last 24 hours, while transactions rose by nearly 7%, marking a surprising surge in short-term engagement.
Despite total active addresses dropping from 170K to 80K, transactions have remained consistently above 900K for weeks, indicating sustained base-level demand.
However, it remains unclear whether this activity burst reflects a meaningful trend reversal or just short-lived volatility.
This mismatch between daily engagement and broader usage trends raises questions about long-term sustainability as the network attempts to regain traction.
Rising exchange inflows – A silent signal of…
Over the past 24 hours, Optimism recorded +662.57K OP in exchange inflows, with the 30-day figure standing at +1.6 million OP.
Although the token price has been weak, the consistent influx of tokens to exchanges suggests that some holders may be preparing to sell.
This aligns with concerns about declining user participation, as seen in the drop in address activity. Therefore, the growing inflows could reflect shifting sentiment among core participants.
If this trend persists, it may place downward pressure on OP, especially in the absence of strong buying demand or fresh user adoption.
Source: IntoTheBlock
Can OP survive a breakdown at the $0.58–$0.60 support zone?
OP has been testing a long-standing support level between $0.58 and $0.60, a range that has held firm for months.
Price action has repeatedly bounced from this area, making it a critical demand zone for bulls. However, momentum indicators such as the MACD remain flat, showing weak conviction from both buyers and sellers.
A clean breakdown below this zone could trigger accelerated losses, particularly if inflows to exchanges persist.
On the flip side, defending this level could offer a springboard for short-term recovery. Therefore, the $0.60 range continues to be a make-or-break zone for OP’s structure.
Source: TradingView
Will Binance traders’ bullish stance be enough to reverse the trend?
On Binance, 69.47% of accounts remain long on OPUSDT, compared to 30.53% short. This reflects a clearly bullish bias, but one that has weakened over time, down from over 80% long earlier this month.
The drop in long confidence suggests that traders are becoming cautious despite the token trading near a historically strong support level.
Furthermore, the absence of clear upside momentum makes it difficult for bulls to build a strong case.
Source: Coinglass
Are OP short sellers running out of steam?
At press time, OP saw a significant imbalance in liquidations: $148.68K in short positions were wiped out, while only $26.29K in longs were liquidated. This suggests that bears are increasingly vulnerable to sudden price spikes.
Additionally, short squeezes near strong support zones can often lead to sharp rebounds. If bulls manage to hold the $0.60 level, further short liquidations could fuel a brief rally.
However, the broader structure remains fragile, and this pressure may only offer temporary relief unless supported by stronger fundamentals or user growth.
Source: CoinGlass
While Optimism’s daily user spike offers a brief spark of momentum, broader signals remain uncertain. Persistent exchange inflows and a fragile technical setup continue to pressure price action.
Unless network participation grows consistently and traders regain conviction, the recent uptick could prove short-lived.
Therefore, the sustainability of OP’s recovery depends on whether this surge marks a genuine shift or just another fleeting bounce in a weakening market structure.
