l{"id":1339726,"date":"2024-08-25T00:00:16","date_gmt":"2024-08-24T23:00:16","guid":{"rendered":"https:\/\/www.businesstelegraph.co.uk\/optimism-major-partnership-pushes-op-price-by-24\/"},"modified":"2024-08-25T00:00:16","modified_gmt":"2024-08-24T23:00:16","slug":"optimism-major-partnership-pushes-op-price-by-24","status":"publish","type":"post","link":"https:\/\/www.businesstelegraph.co.uk\/optimism-major-partnership-pushes-op-price-by-24\/","title":{"rendered":"Optimism: Major Partnership Pushes OP Price By 24%"},"content":{"rendered":"<p> <script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- newscabal uk text -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:inline-block;width:728px;height:90px\"\r\n     data-ad-client=\"ca-pub-8162386273903324\"\r\n     data-ad-slot=\"3688094655\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p><span style=\"font-weight: 400\">As the market gains more bullish momentum, Optimism (OP) investors become more enthusiastic after this week\u2019s price actions. According to <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/optimism\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400\">CoinGecko<\/span><\/a><span style=\"font-weight: 400\">, the token is up more than 24% since last week which is currently supported by the strong bullish sentiment present within the market.\u00a0<\/span><\/p>\n<p><h2 class=\"jeg_block_title\"><span>Related Reading<\/span><\/h2>\n<\/p>\n<p><span style=\"font-weight: 400\">However, Optimism might have more surprises as the platform announces a major partnership that may turn the tide for Optimism with Sony entering the Web 3 and crypto space with Soneium, a venture with Startale Labs.\u00a0<\/span><\/p>\n<h2><strong>Sony Enters Web 3 With Soneium\u00a0<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">In a press release yesterday, Sony <\/span><a href=\"https:\/\/www.sony.com\/en\/SonyInfo\/News\/Press\/202408\/24-029E\/\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400\">announced<\/span><\/a><span style=\"font-weight: 400\"> the creation of Soneium, their first venture into the Web 3 and crypto space. According to their press release, the Soneium blockchain will be used to \u201cexplore and develop a plan to make the network public and aim to create new services by leveraging the various businesses and IP within the Sony Group.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">This becomes a great deal for the crypto community. The blockchain\u2019s focus on Web 3 games and NFTs might revive the retail interest in both industries, possibly placing the highlight on NFTs in the long-term.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The chain was built using the Optimism stack, making it part of the platform\u2019s superchain. Soneium is also EVM-compatible, making the platform easy to use for developers. As the new blockchain matures, Optimism can expect new bullish momentum on its platform and OP.\u00a0<\/span><\/p>\n<h2><strong>$1.5-$1.6 Trading Range Remains Unbreakable For Optimism<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Despite the bullishness OP has found on this level, the token continues to be rejected on the $1.6 ceiling. This places new pressure on the bulls to perform, even tho they\u2019re supported by favorable market conditions and institutional support from centralized organizations like Sony.\u00a0<\/span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-637623\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2024\/08\/Optimism-Major-Partnership-Pushes-OP-Price-By-24.png\" alt=\"\" width=\"563\" height=\"251\"   loading=\"lazy\" data-recalc-dims=\"1\"\/><\/p>\n<p><span style=\"font-weight: 400\">It will take some time for <a href=\"https:\/\/www.coingecko.com\/en\/coins\/optimism\" target=\"_blank\" rel=\"nofollow noopener\">Optimism<\/a> to resume its upward trajectory. Being in a narrow trading range, the bulls have little wiggle room to grab gains, moving the bullish breakthrough in the next few weeks or months.\u00a0<\/span><\/p>\n<figure style=\"width: 1835px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2024\/08\/Optimism-Major-Partnership-Pushes-OP-Price-By-24\" width=\"1835\" height=\"883\" loading=\"lazy\"\/><figcaption class=\"wp-caption-text\">OP market cap currently at $1.9 billion. Chart: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener\">TradingView<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">However, the positive developments might shorten this timeframe by a couple of days as long-term speculators enter the market. With Soneium entering a maturation phase, Optimism will be affected by the development of the former. But OP\u2019s high market correlation with BTC might be a double edged sword for the token.\u00a0<\/span><\/p>\n<p><h2 class=\"jeg_block_title\"><span>Related Reading<\/span><\/h2>\n<\/p>\n<p><span style=\"font-weight: 400\">As time progresses, BTC might face some resistance on its upward trajectory, possibly returning to sustainable levels in the short term. With this in mind, investors and traders should be well aware of the market\u2019s current volatility. However, with the long term viability of the new Soneium, there\u2019s a lot to be optimistic for OP.\u00a0<\/span><\/p>\n<p><em>Featured image from Pexels, chart from TradingView<\/em><\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block; text-align:center;\"\r\n     data-ad-layout=\"in-article\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-client=\"ca-pub-8162386273903324\"\r\n     data-ad-slot=\"7859258044\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/news\/optimism-major-partnership-pushes-op-price-by-24\/\">READ SOURCE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the market gains more bullish momentum, Optimism (OP) investors become more enthusiastic after this week\u2019s price actions. According to CoinGecko, the token is up more than 24% since last week which is currently supported by the strong bullish sentiment present within the market.\u00a0 Related Reading However, Optimism might have more surprises as the platform [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1339727,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_oct_exclude_from_cache":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1339726","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-market"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Optimism: Major Partnership Pushes OP Price By 24% - Business Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.newsbtc.com\/news\/optimism-major-partnership-pushes-op-price-by-24\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Optimism: Major Partnership Pushes OP Price By 24% - Business Telegraph\" \/>\n<meta property=\"og:description\" content=\"As the market gains more bullish momentum, Optimism (OP) investors become more enthusiastic after this week\u2019s price actions. According to CoinGecko, the token is up more than 24% since last week which is currently supported by the strong bullish sentiment present within the market.\u00a0 Related Reading However, Optimism might have more surprises as the platform [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.newsbtc.com\/news\/optimism-major-partnership-pushes-op-price-by-24\/\" \/>\n<meta property=\"og:site_name\" content=\"Business Telegraph\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-24T23:00:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2024\/08\/Optimism-Major-Partnership-Pushes-OP-Price-By-24-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"businesstelegraph\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"businesstelegraph\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.newsbtc.com\/news\/optimism-major-partnership-pushes-op-price-by-24\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.businesstelegraph.co.uk\/optimism-major-partnership-pushes-op-price-by-24\/\"},\"author\":{\"name\":\"businesstelegraph\",\"@id\":\"https:\/\/www.businesstelegraph.co.uk\/#\/schema\/person\/0a3a6a0f58402f1f2af94e02d0987b78\"},\"headline\":\"Optimism: Major Partnership Pushes OP Price By 24%\",\"datePublished\":\"2024-08-24T23:00:16+00:00\",\"dateModified\":\"2024-08-24T23:00:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.businesstelegraph.co.uk\/optimism-major-partnership-pushes-op-price-by-24\/\"},\"wordCount\":450,\"publisher\":{\"@id\":\"https:\/\/www.businesstelegraph.co.uk\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.newsbtc.com\/news\/optimism-major-partnership-pushes-op-price-by-24\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2024\/08\/Optimism-Major-Partnership-Pushes-OP-Price-By-24-scaled.jpg\",\"articleSection\":[\"cryptocurrency market\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.businesstelegraph.co.uk\/optimism-major-partnership-pushes-op-price-by-24\/\",\"url\":\"https:\/\/www.newsbtc.com\/news\/optimism-major-partnership-pushes-op-price-by-24\/\",\"name\":\"Optimism: Major Partnership Pushes OP Price By 24% - 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