- Optimism’s price rose more than 13% to reach highs of $0.84, alongside gains in PancakeSwap, Ethena and SPX6900.
- Upbit, South Korea’s leading crypto exchange, announced the listing of the native OP token from the Ethereum Layer 2 scaling solution.
- OP’s price could surge 100% as bulls target $2.
Optimism (OP) has posted double-digit gains, reflecting broader altcoin momentum led by PancakeSwap, Ethena and SPX6900 among the top performers over the past 24 hours.
These gains for the native token of Ethereum’s Layer 2 scaling solution follow a major boost from Upbit, the dominant cryptocurrency exchange in South Korea.
The introduction of new trading pairs for OP on Upbit could drive further price movement as liquidity and user access expand.
South Korea’s Upbit adds support for Optimism
Upbit, a major force in South Korea’s crypto market, has announced new trading pairs for Optimism (OP).
The exchange confirmed in an official statement that trading support will begin at 16:30 KST, a move expected to bring substantial trading volume and added liquidity to OP.
Because South Korea is a significant crypto market, the listing announcement immediately boosted OP’s daily volume and price.
Following the announcement, Optimism rallied approximately 13%, rising from a recent low of $0.71 to a peak of $0.84.
This surge coincided with an astonishing 420% increase in trading volume, which exceeded $700 million, underscoring Upbit’s role as one of the largest exchanges by daily volume.
The listing may provide support for bullish momentum and help the token reach new highs on the charts.
OP has also benefited in recent weeks after asset manager Hamilton Lane—managing roughly $956 billion—expanded its flagship Senior Credit Opportunities Securitize Fund (SCOPE) to include Optimism and the Ethereum mainnet.
Optimism price outlook: Could OP double again?
With crypto markets leaning bullish and analysts suggesting the altcoin season may still be unfolding, Optimism is among the tokens to watch.
The Upbit listing is a potentially strong catalyst as the token looks positioned for a breakout.
Upbit’s large user base and low KRW trading fees (0.05%) could shine a spotlight on OP, attracting retail and institutional participants alike.
Technical indicators show bullish control: the daily chart displays a rising relative strength index (RSI), indicating strong buying pressure.
The moving average convergence divergence (MACD) currently presents a bullish crossover, reinforcing the positive price outlook for OP.
At the time of writing, Optimism is trading around $0.82. Continued bullish momentum and renewed retail demand could push the token over $1.
OP last traded near $1.20 in April. If buyers reclaim that level, a rally toward $2 and potentially $2.10—levels seen earlier this year—becomes more likely.
That said, if sellers appear amid the hype around the Upbit listing, primary support levels to watch are approximately $0.74 and $0.68.
Investors should consider market volatility and perform their own research before making trading decisions.