Optimism: Rising from the Base

    According to many reports circulating on the Internet, prices for Optimism have skyrocketed since Coinbase launched Base, a Layer-2 blockchain on Ethereum. Let's see if it's really effective.

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    Introduction

    On February 23, 'Base', Coinbase's Ethereum-backed Layer-2 blockchain, became active on the testnet. This situation has attracted the attention of the crypto world, and for this reason, many news and analysis are now on the market. An article on the Decrypt site caught my attention. According to what is written, the launch of Base caused a 16% increase in Optimism prices (also affected by the other Layer-2 blockchain, Arbitrum). In this analysis, I wanted to examine the effect of Base on Optimism in detail and to see if there really is an effect of Base.

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    Overview

    First, let's see the increase and the situation clearly. I will talk about two situations:

    -> Initial case: Yes, obviously $OP price increases when Base launches. This increase ends the day after Base is published and the decline begins. It could have a potential impact here (which we'll look into further).

    -> Case two: If you take the closing price on the day before the base is published (Feb 22) and compare it to the peak price reached by $OP, you will see that there is an increase of about 18%. In fact, there has been an increase even more than the written articles.

    Yes, we now know that there has been an increase in this period. Let's examine these effects in detail in other tabs.

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