OP is currently exhibiting a 'technology upgrade and market sentiment resonance' pattern: The ERC-7715 protocol innovation strengthens the ecosystem’s moat, which is expected to facilitate dApp migration and boost activity in the long term. However, in the short term, TVL outflows caused by protocol migration may impact the ecosystem’s income; attention should be paid to the progress of revenue recovery. The involvement of the Fed Chair candidate in OP-related assets has raised institutional interest and could attract more compliant funds once policies become clear. Technically, $0.12 acts as critical support—if OP holds above $0.14, the rebound may extend with a near-term target of $0.15; on a pullback, risks focus on $0.11. It is recommended to pay attention on dips and respond flexibly to potential volatility, focusing on mid-to-long term allocation windows driven by fundamental improvements.

The Optimism mainnet now supports the ERC-7715 standard, allowing proxy contracts and dApps to gain finer wallet execution permissions and obtain support from mainstream wallets like MetaMask. This move enhances interoperability and user experience at the functional level, reducing friction and enabling developers to build more complex permission management models atop Layer2 networks. In the long run, this protocol upgrade is expected to attract more dApps to migrate to the mainnet, boost network activity and fee income, and further solidify Optimism’s competitive edge among Layer2 solutions.

Optimism announced that agents and decentralized applications can now request wallet execution permissions on OP Mainnet using the ERC-7715 standard. MetaMask supports this, enabling more granular control over wallet actions and allowing dApps on Optimism to implement advanced permission models beyond basic transaction approvals.

Optimism Enables Agents, DApps to Request Wallet Execution Permissions on OP Mainnet

The large-scale migration of the Scroll protocol from the Optimism mainnet led to a TVL outflow of nearly $160 million and an annualized loss of about $13 million in fees, substantially hitting ecosystem revenues. The market may have concerns over short-term activity in the Optimism ecosystem because of this, creating downward pressure on price and capital inflows. Ongoing monitoring is needed for potential TVL inflows and for ecosystem incentives supporting core protocols and application infrastructure.

Scroll is cutting costs after its top protocol migrated to Optimism, resulting in a loss of nearly $160 million in total value locked (TVL) and $13 million in annualized fees. This financial impact has prompted the company to downsize.

Scroll moves to cut costs after top protocol migrates to Optimism

According to disclosures, Federal Reserve Chair candidate Kevin Warsh holds assets related to Optimism, indicating that mainstream financial figures are beginning to position themselves in the Layer2 sector. This signal helps garner greater attention and confidence from institutions for OP, and once the regulatory framework is clarified, it could draw more compliant funds into the network, helping to maintain relative valuation stability in the mid-to-long term.

Kevin Warsh, nominated as Federal Reserve Chair by Trump, disclosed in a 69-page financial filing that he and his wife hold at least $192 million in assets, including indirect investments in over 20 crypto-related entities such as Solana, dYdX, Polychain Capital, and Optimism. If confirmed, he would be the first Fed Chair with crypto venture exposure. His holdings span multiple crypto sectors, reflecting a deep engagement with the industry, though many positions are small.

The first Federal Reserve Chair to hold cryptocurrency assets? Kevin Warsh reveals at least 20 crypto investments including Solana and dYdX.

At the daily chart level, OP rebounded from a low of $0.1069 on April 12 and logged three consecutive bullish days, closing at $0.1324 on April 16 with trading volume surging over 40%, breaking through both 10- and 20-day moving average resistance. Short-term resistance is near $0.14—holding above this would make a test of $0.15 likely; strong support remains at the $0.12 and $0.11 marks. While overall momentum persists, caution is needed regarding technical corrections at higher levels due to profit-taking.

Return of buying in the Ethereum derivatives market, continued ETF net inflows, and US core PCE data meeting expectations have allayed general concerns over liquidity, thus improving risk appetite for crypto assets. As a scaling solution for Ethereum, the Layer2 ecosystem typically benefits from the overflow effect during shifts in capital preferences, further supporting OP’s market popularity.

Market data shows Ethereum buyers are returning, with bulls defending the $2000 support level. Since March 6, Ethereum's aggressive buying volume has remained positive, indicating a recovery in derivatives market demand. The buying pressure dominates at $104 million, marking the first such shift in Ethereum derivatives since the last bear market. Futures open interest nears a historic high, and spot Ethereum ETFs saw a $120 million net inflow, the highest since mid-March.

Analysis: Ethereum's proactive order consumption has remained positive since March, signaling a recovery in the derivatives market.

The latest US PCE inflation data met expectations, easing market uncertainty and stabilizing Bitcoin around $73,000. Core PCE rose 3% year-on-year and 0.4% month-on-month. Despite easing US-Iran tensions, potential energy price impacts remain unreflected. Investors remain cautious about Fed rate cuts. Economist Mohamed El-Erian highlights upcoming CPI data as more critical amid oil price volatility. Analyst Michaël van de Poppe maintains an $80,000 Bitcoin target if key support holds.

Analysts maintain an $80K Bitcoin target as PCE inflation data boosts market sentiment.

Optimism

It’s not a given that the European Central Bank’s next move on interest rates will be a hike, according to Governing Council member Martins Kazaks.

Kazaks: Will not oppose bets on two interest rate hikes this year

Waller: Rapid resolution of the Middle East situation may allow for interest rate cuts later this year.

Waller: Overall PCE inflation year-over-year in March may reach 3.5%

The Federal Reserve's Waller expressed caution regarding interest rates, warning of the risks of prolonged warfare.

Fed's Daly: Rates May Remain Unchanged

Daly: The federal funds rate is slightly above the neutral level of 3%.

UBS Expects 50 bps Fed Rate Cuts as Gov Miran Downplays Inflation Risks

Federal Reserve's Daly: On hold regarding interest rates.

Easing tensions in the Middle East combined with rising expectations of interest rate cuts have pushed gold close to $4,900.

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Optimism Price: OP Live Price Today | OP Market Cap & Chart Analysis | Bybit-eu

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OP price today is 0.13, with a live price change of 1.96 in the last 24 hours. Convert, buy, sell and trade OP on Bybit-eu.

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