OP Token Slides 3.5% Amid Layer 2 Reserve Drop and MEV Surge Despite Wallet Growth

Optimism (OP) experienced a 3.50% price decline over the past 24 hours, trading at $0.551 on Binance, with the drop attributed to ongoing market volatility, a sharp decrease in Layer 2 Ethereum reserves (down 54% since March 2025), and increased MEV bot activity driving over half of OP Mainnet gas usage. Despite a 121% surge in new wallet addresses last week, the broader downtrend and reduced market sentiment across Layer 2 platforms have contributed to the recent sell-off. OP maintains high liquidity with a 24-hour trading volume of approximately $239.6 million and a market cap near $933 million, ranking #71 among cryptocurrencies, with recent price action reflecting heightened volatility and close monitoring of key support levels.