Optimism Outperforms Competitors in Net Flow, Despite Declining OP Price and Whale Interest

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Despite facing tough competition from Arbitrum and Polygon, Optimism has been outperforming other layer 2 solutions in terms of net bridge flow, with a total of $57.1 million in the last week. This could be attributed to the growing number of users on the network, as indicated by Dune Analytics' data which showed a surge in user retention. However, the price of the OP token has declined by 43.64% since April 15, although there has been a spike in whale transactions which could have a positive impact on the token going forward. The Relative Strength Index (RSI) of OP has declined while the Chaikin Money Flow (CMF) has been increasing, suggesting a demand for the token from new buyers or institutional investors.


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