🔴What is Optimism and OP❓

The Optimism network is a layer2 solution that was created to solve the scaling problems of the Ethereum blockchain. Optimism uses Optimisitic Rollup solutions to increase scalability. In this solution, the Optimism network collects and executes transactions in its network and sends them in a compressed form to the Ethereum network, causing the scalability, speed of transactions and their fees to be significantly reduced. OP is the native token of the project. The current use cases for OP include:

• Governance: OP tokenholders are part of a bicameral system where OP tokenholders form a body to vote on certain governance matters.
• Rewards and Ecosystem Funding: OP tokens are airdropped to users and protocols which supported the Optimism ecosystem, and will be distributed through the OP Governance Fund to future projects building on Optimism.

This dashboard provides a comprehensive evaluation of the performance of the OP token from various perspectives. The main objective is to assess whether OP is a favorable investment option. We aim to determine if the token is currently undervalued or not by analyzing it using different indicators.

The first part focuses on analyzing the price of the OP token. Initially, we review the maximum and minimum price levels to gain insights. We then examine the price chart to identify any notable trends. Additionally, we assess the price volatility of OP. This involves analyzing the currency's fluctuations and examining the percentage changes in its price. We explore the percentage price changes on different days of the week and calculate the average percentage price changes across all days of the month. Furthermore, we analyze the percentage price changes in daily, weekly, monthly, and yearly time frames.

After evaluating the price volatility, we proceed to determine the dynamic support and dynamic resistance levels using a moving average and standard deviation approach. This helps us identify the levels at which the price of OP is likely to find support or face resistance. In the final part of this section, we investigate the correlation coefficient between the OP price and BTC (Bitcoin) and ETH (Ethereum). This analysis provides insights into any relationships or dependencies between OP and these major cryptocurrencies.

Moving on to the next section, we shift our focus to the status of OP swaps. We calculate the volume and number of swaps involving OP tokens and evaluate the number of traders engaged in OP token trading activities. This analysis helps us understand the level of activity and liquidity in the OP token market.

In the next section, we delve into the situation of OP holders. We calculate the number of OP holders and assess the average balance of each wallet. Additionally, we identify the addresses holding the largest amounts of OP tokens. Furthermore, we examine the distribution of OP tokens among different holders to gain insights into the concentration or dispersion of ownership.

Continuing further, we evaluate the status of OP transfers with centralized exchanges (CEXes). We assess whether there has been an increase or decrease in inflows to CEXes over the past weeks and months. This analysis provides valuable information about the trading activities and market interest in OP token on CEXes.

Overall, this dashboard aims to provide a comprehensive review of the OP token from multiple angles, helping users make informed decisions regarding its potential as an investment option.