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Optimism price spikes as OP lands on South Korea’s largest crypto exchange

  • Optimism price increased by more than 13% to highs of $0.84 amid gains for PancakeSwap, Ethena and SPX6900.
  • Upbit, South Korea’s leading crypto exchange, announced the listing of the Ethereum layer 2 scaling solution’s native token OP.
  • The price of OP could explode 100% as bulls eye $2.

Optimism (OP) price is up double-digits, mirroring moves by PancakeSwap, Ethena and SPX6900 as top altcoins by 24-hour gains.

Gains for the native token of the Ethereum layer 2 scaling solution come amid a major boost from Upbit, South Korea’s dominant crypto exchange.

With new trading pairs set to launch for OP, price could follow.

South Korea’s Upbit adds support for Optimism

Upbit, a titan in South Korea’s crypto landscape, is rolling out new trading pairs for Optimism (OP).

The exchange said this in an official announcement posted earlier today.

In it, Upbit confirms that trading support will kick off at 16:30 KST, bringing massive trading volume and liquidity to OP.

With South Korea being a big crypto market, this news has buoyed OP’s daily volume and price.

As noted, Optimism has managed an impressive 13% spike from its recent trough of $0.71 to a peak of $0.84.

The surge is accompanied by a staggering 420% spike in trading volume, which surged past $700 million.

It’s a reaction that reinforces Upbit’s reputation as one of crypto’s biggest exchanges by daily volume.

The listing may bolster bulls and bring new highs into the picture.

OP has also traded higher in recent weeks after $956 billion asset manager Hamilton Lane expanded its flagship fund, Senior Credit Opportunities Securitize Fund (SCOPE), to Optimism and the Ethereum mainnet.

Optimism price forecast: Another 100% gain for OP?

As the crypto market holds onto bullish sentiment and analysts say altcoin season is yet to unfold, one of the coins to watch is Optimism.

The OP token teeters on the verge of a breakout, with Upbit’s listing a potentially huge catalyst.

Notably, the exchange’s vast user base and low 0.05% KRW trading fees could propel OP into the spotlight, potentially attracting both retail and institutional players.

A look at technical indicators shows bulls have an upper hand.

Optimism price chart by TradingView

The daily chart has a rising Relative Strength Index (RSI), which signals robust buying pressure.

OP’s price outlook is also positive as indicated by the Moving Average Convergence Divergence (MACD), currently sporting a bullish crossover.

While Optimism price hovers near $0.82 at the time of writing, upside momentum amid fresh retail demand could help push it past $1.

The token last traded at highs of $1.2 in April. If buyers reclaim this level, a break to $2 and YTD peak of $2.1 is likely.

However, if sellers emerge amid the Upbit listing-driven hype, primary support levels are around $0.74 and $0.68.

The post Optimism price spikes as OP lands on South Korea’s largest crypto exchange appeared first on CoinJournal.

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Solana price prediction: SOL targets $250 amid ETF buzz

Key takeaways

  • SOL is trading at $197 after adding 2% to its value over the weekend.
  • The coin could rally towards $250 soon as investors anticipate a spot ETF.

SOL approaches $200 as altcoins lead the market charge

The cryptocurrency market is having a positive start to the week following last week’s deep correction. Bitcoin is trading above $119k while Ether is targeting the $4k psychological mark.

Binance’s BNB has hit a new all-time high of $857, with XRP and Solana also recording healthy gains. SOL, the native coin of the Solana blockchain, is up by more than 2% in the last 24 hours and now trades close to $200.

The positive performance comes as investors anticipate a Solana spot ETF in the coming months. Bitget Wallet CMO Jamie Elkaleh stated that,

“ETF conversations around SOL are further amplifying interest. With a more crypto-friendly regulatory tone emerging in the U.S., sentiment around both XRP and SOL remains constructive.”

According to market analysts, fundamentals are finally starting to align with Solana’s market structure. Liquidity is improving, and institutional flows are growing. The addition of spot ETF products would boost SOL’s adoption and push the price to new highs.

SOL could hit $250 soon

The SOL/USD 4-hour chart is bullish and efficient, with the market structure shifting to the upside. This shift suggests that SOL could be preparing for another leg up in the coming hours or days.

The technical indicators are also bullish. The RSI of 62 shows that SOL is bullish and could head into the overbought region soon. The MACD lines crossed over into the positive region, suggesting that buyers are in control.

SOL/USD 4-hour chart

If SOL’s daily closes above $195, it could hit the minor resistance level at $207 over the next few hours. An extended rally would allow it to approach the FVG around $225k before rallying to $250 for the first time since January. 

However, failure to close above the $195 region could result in a correction and push SOL lower to the $177 support level. If the bulls fail to hold this support level, SOL could dump further to the $157 low created on July 15.

The post Solana price prediction: SOL targets $250 amid ETF buzz appeared first on CoinJournal.

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PancakeSwap jumps on 200% volume spike and Infinity launch

  • PancakeSwap (CAKE) price  rose 13% in 24 hours, fueled by activity in BNB Chain and the broader altcoin market.
  • Upside helped by a 200% spike in trading volume amid Infinity launch and new incentive campaign
  • If CAKE breaks the $3.30 resistance, bulls could eye $10.

PancakeSwap is looking to extend gains above a key level, with gains in the past 24 hours amid a 200% spike in trading volume.

The decentralized exchange’s PancakeSwap Infinity has sparked a frenzy of activity.

As Bitcoin bounced and BNB price spiked, CAKE has drawn traders and enthusiasts eyeing an opportunity as the platform expands.

PancakeSwap price gains double-digits

CAKE rose 13% in 24 hours, fueled by activity in BNB Chain and the broader altcoin market as BNB price jumped above $850. The catalyst for the latest price move looks to be the recent unveiling of PancakeSwap Infinity on the Base network.

Infinity is the decentralized finance platform’s modular framework, featuring customizable “Hooks” offering smart contract plug-ins. Developers and users can leverage the innovation for tailored liquidity pools, with key features including dynamic fees, rebate systems, and onchain limit orders.

Following its initial rollout on BNB Chain in April, the move to Base has coincided with the network’s total value locked.

CAKE is also gaining amid a new network incentive campaign.

“PancakeSwap is excited to launch a new trading campaign featuring five Binance Alpha Tokens on the BNB Chain: Bedrock (BR), MilkyWay (MILK), League of Traders, NodeOps (NODE), and Moonveil (MORE) Due to community feedback, the campaign has been extended! You now have extra time to participate and can earn a share of ~$250,000 in rewards by trading these tokens on PancakeSwap until August 5, 2025,” the DEX wrote in a blog post.

Details show the TVL has jumped to above $4.29 billion, up more than 33% year-to-date.

Interest in the Base deployment has seen the 24-hour DEX volume for PancakeSwap surge nearly 200% to over 4417 million. Per CoinMaketCap, CAKE’s market cap has increased to over $2.3 billion.

What next for CAKE price?

As of writing, PancakeSwap native token’s 13% gain over the last 24 hours puts it top of the list of gainers in this period. Crypto analyst CryptoBullfish shared the take below on CAKE and BNB:

CAKE’s 19% uptick in the past week also sees it rank in the top 10 – behind Ethena, Flare, Cronos and Story.

While BNB rode BNB Chain activity to break to a new all-time high above $850, PancakeSwap was eyeing fresh gains around $3.30. Should CAKE breach this critical resistance level, it could witness a bold push toward $5 and potentially $10.

On the contrary, support lies around $2.

The post PancakeSwap jumps on 200% volume spike and Infinity launch appeared first on CoinJournal.

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BNB hits a new all-time high, targets $900; Check forecast

Key takeaways

  • Binance’s BNB is the best performer among the top 10 cryptocurrencies by market cap, up nearly 8% in the last 24 hours.
  • The coin has hit a new all-time high of $857 and could be set to rally higher in the near term.

BNB trades above $850 as altcoins rally higher

The cryptocurrency market was bearish last week but has begun the new week in a bullish fashion. Bitcoin hit the $119k mark after slipping below $116k on Friday, while Ether is approaching the $4k psychological mark.

However, Binance’s BNB is the best performer among the top 10 cryptocurrencies by market cap. The coin added nearly 8% to its value in the last 24 hours to hit a new all-time high price of $857 a few minutes ago.

The positive performance comes as BNB continues to attract institutional interest thanks to Binance’s position as the leading cryptocurrency exchange in the world. BNB’s rally also indicates that altcoins are currently leading the market charge.

In addition to BNB, other leading altcoins, including Ether, XRP, Solana, Dogecoin, and Cardano, all added over 2% to their values in the last 24 hours.

BNB could extend rally to $900

BNB overtook Solana last week to become the fourth-largest cryptocurrency by market cap and looks set to extend its lead. With a market cap of $119 billion, BNB is nearly $40 billion away from third-place USDC.

The BNB/USD 4-hour chart is bullish and efficient, suggesting that BNB could be preparing for another leg up. The technical indicators are also bullish as buyers are currently in control.

BNB/USD 4H Chart

The RSI of 74 shows that BNB could be heading into the overbought region if the bullish trend continues. Meanwhile, the MACD lines have been in the positive zone for weeks now, suggesting a bullish bias.

If the rally continues, BNB could surge towards the $900 mark and set a new all-time high in the process. The $1k psychological level remains the medium-term goal for Binance’s native coin.

However, BNB might experience a correction following its recent rally. If that happens, BNB could retest the support and TLQ level at $841 over the next few hours. An extended selling pressure would see BNB drop to the weekend low of $795.

The post BNB hits a new all-time high, targets $900; Check forecast appeared first on CoinJournal.