Optimism Plunges Double Digits Amid Base's Tech Stack Overhaul
The price of Optimism’s OP token has dropped over 20% in the past 24 hours, following news that Base, a major layer 2 solution, will transition from the OP Stack to its own independent tech stack. This move ends a three-year partnership where Base shared sequencer revenue with Optimism. Base cited the need for faster development and reduced complexity as reasons for the change; its generated revenue will now stay in-house. OP is now trading at $0.1436, down 23.4% in a day and over 53% in the past month—approximately 97% below its all-time high. Overall, altcoins are experiencing significant selloffs, with the market shedding $290 billion over the past 13 months. Only a few tokens, particularly in the privacy sector, are recording gains. Analysts expect altcoins to remain volatile and narrative-driven in the near future, with muted sentiment and little likelihood of an imminent “alt season.”
