Convert and Swap Optimism OP to United States Dollar USD
OP/USD: 1 Optimism equals $1.79 USD
Last update: 5:12 PM, December 22, 2024
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Optimism is falling this week.
The current price of Optimism is $1.79 per OP. With a circulating supply of 1,351,719,035 OP, it means that Optimism has a total market cap of $2,418,560,851.05. The amount of Optimism traded has fallen by $81,807,036.69 in the last 24 hours, which is a 26.48% decrease. Additionally, in the last day, $308,896,418.05 worth of OP has been traded.
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About Optimism
Optimism is a layer two protocol and smart contract platform that aims to enable low-cost and near-instantaneous Ethereum transactions. The OP cryptocurrency powers the Token House, which will be a division of the Optimism Collective alongside the Citizens' House. The Collective governs network parameters, treasury disbursements, and protocol upgrades.
Optimism (OP) is a layer-two blockchain that operates on top of Ethereum, aiming to enhance the scalability of the Ethereum ecosystem. It employs a technology known as optimistic rollups, which allows transactions to be recorded on Optimism and ultimately secured on Ethereum. This approach aims to provide a balance between efficiency and security. Optimism is home to numerous protocols and has a significant total value locked (TVL), indicating its substantial role in the Ethereum ecosystem. The project is led by the Optimism Foundation, a nonprofit organization that strives to grow the Optimism ecosystem and aims to become a fully decentralized public good.
Optimism operates by leveraging the security of Ethereum's consensus mechanism. It constructs and executes blocks on its own layer (L2), while user transactions are batched and submitted to Ethereum's layer (L1). This process ensures a smooth user experience while maintaining security through Ethereum's consensus mechanism. Transactions are submitted to Ethereum without direct proof of validity and can be challenged for a certain period of time. After this period, a transaction is considered final. This is why withdrawals from Optimism to Ethereum take seven days to complete.
Optimism aims to create an ecosystem where value is generated for its three constituencies: token holders, contributors and builders, and users and community members. The demand for OP block space generates revenue, which is distributed to public goods, driving more demand for block space. This makes Optimism a potential platform for a wide range of decentralized applications (dApps), including decentralized exchanges (DEXs), automated market makers (AMMs), and other financial protocols. Users can also bridge tokens like ETH to the L2, expanding the possibilities for token utilization within the Optimism ecosystem.
Optimism was established by the Optimism Foundation, a nonprofit organization dedicated to growing the Optimism ecosystem. The project is completely funded by donations and grants, and it pledges to produce infrastructure that promotes the growth and sustainability of public goods. On May 31, 2022, Optimism conducted an anticipated airdrop of its OP token. The initial token supply is over 4 billion OP tokens, with an inflation rate of 2% per year. The project's design process is built around the idea of long-term sustainability and not taking shortcuts to scalability, which is why it uses optimistic rollups and takes advantage of the consensus mechanism of Ethereum to scale the network.
How Optimism and United States Dollar differ
Optimism (OP) and the US Dollar (USD) are fundamentally different in their nature and functionality. Optimism is a layer-two blockchain that operates on top of Ethereum, aiming to enhance the scalability of the Ethereum ecosystem. It uses a technology called optimistic rollups to record transactions on its own layer, which are then secured on Ethereum. This process aims to balance efficiency and security. On the other hand, the US Dollar is a traditional fiat currency, issued and regulated by the Federal Reserve. It is used as a medium of exchange, a unit of account, and a store of value. Unlike Optimism, the US Dollar does not rely on blockchain technology or consensus mechanisms for its operation. Furthermore, Optimism seeks to create an ecosystem where value is generated for its constituents, including token holders, contributors, builders, and community members. It is a potential platform for a wide range of decentralized applications (dApps), expanding the possibilities for token utilization within its ecosystem. In contrast, the US Dollar serves as the backbone of the global economy, used in international trade, foreign exchange markets, and as a benchmark for other currencies.
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OP to United States Dollar conversion tables
The exchange rate of Optimism is decreasing.
The current value of 1 OP is $1.79 USD. In other words, to buy 5 Optimism, it would cost you $8.96 USD. Inversely, $1.00 USD would allow you to trade for 0.56 OP while $50.00 USD would convert to 27.90 OP, not including platform or gas fees.
In the last 7 days, the exchange rate has fallen by 29.39%. Meanwhile, in the last 24 hours, the rate has changed by 1.78%, and that the the highest exchange rate of 1 OP to United States Dollar was $1.82 USD and the lowest 24 hour value was 1 OP for $1.71 USD. This time last month, the value of 1 OP was $2.13 USD, which is a 17.03% increase from where it is now. Looking back a year, Optimism has changed by $3.47 USD. That means that in a single year, the value of Optimism has shrank by 49.62%.
OP to USD performance history
Price 24H ago | Change 24H | Price 1W ago | Change 1W | Price 1M ago | Change 1M | Price 1Y ago | Change 1Y |
|---|---|---|---|---|---|---|---|
$1.79 USD | -1.78% | $2.54 USD | -29.39% | $2.13 USD | -17.03% | $3.47 USD | -49.62% |
OP to USD
Amount | Today at 5:12 pm |
|---|---|
0.5 OP | $0.90 |
1 OP | $1.79 |
5 OP | $8.96 |
10 OP | $17.92 |
50 OP | $89.60 |
100 OP | $179.20 |
500 OP | $896.00 |
1,000 OP | $1,792.00 |
USD to OP
Amount | Today at 5:12 pm |
|---|---|
0.5 USD | 0.28 OP |
1 USD | 0.56 OP |
5 USD | 2.79 OP |
10 USD | 5.58 OP |
50 USD | 27.90 OP |
100 USD | 55.80 OP |
500 USD | 279.02 OP |
1,000 USD | 558.04 OP |
Today vs. 24 hours ago
Amount | Today at 5:12 pm | 24 hours ago | 24H Change |
|---|---|---|---|
0.5 OP | $0.90 | $0.90 | -0.11% |
1 OP | $1.79 | $1.79 | -0.11% |
5 OP | $8.96 | $8.97 | -0.11% |
10 OP | $17.92 | $17.94 | -0.11% |
50 OP | $89.60 | $89.70 | -0.11% |
100 OP | $179.20 | $179.40 | -0.11% |
500 OP | $896.00 | $897.00 | -0.11% |
1,000 OP | $1,792.00 | $1,794.00 | -0.11% |
Today vs. 1 month ago
Amount | Today at 5:12 pm | 1 months ago | 1M Change |
|---|---|---|---|
0.5 OP | $0.90 | $1.06 | -15.83% |
1 OP | $1.79 | $2.13 | -15.83% |
5 OP | $8.96 | $10.65 | -15.83% |
10 OP | $17.92 | $21.29 | -15.83% |
50 OP | $89.60 | $106.45 | -15.83% |
100 OP | $179.20 | $212.90 | -15.83% |
500 OP | $896.00 | $1,064.50 | -15.83% |
1,000 OP | $1,792.00 | $2,129.00 | -15.83% |
Today vs. 1 year ago
Amount | Today at 5:12 pm | 1 year ago | 1Y Change |
|---|---|---|---|
0.5 OP | $0.90 | $1.73 | -48.30% |
1 OP | $1.79 | $3.47 | -48.30% |
5 OP | $8.96 | $17.33 | -48.30% |
10 OP | $17.92 | $34.66 | -48.30% |
50 OP | $89.60 | $173.30 | -48.30% |
100 OP | $179.20 | $346.60 | -48.30% |
500 OP | $896.00 | $1,733.00 | -48.30% |
1,000 OP | $1,792.00 | $3,466.00 | -48.30% |
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