The post Major Partnership Pushes OP Price By 24% appeared on BitcoinEthereumNews.com.

As the market gains more bullish momentum, Optimism (OP) investors become more enthusiastic after this week’s 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.  Related Reading 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.  Sony Enters Web 3 With Soneium  In a press release yesterday, Sony announced 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 “explore 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.” This becomes a great deal for the crypto community. The blockchain’s 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.  The chain was built using the Optimism stack, making it part of the platform’s 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.  $1.5-$1.6 Trading Range Remains Unbreakable For Optimism 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’re supported by favorable market conditions and institutional support from centralized organizations like Sony.  It will take some time for Optimism to resume its upward trajectory. Being in a narrow trading range, the bulls have little wiggle…

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Filed under: News - @ August 24, 2024 11:05 pm