Optimism (OP) Bulls and Bears Face Off at $0.13 Threshold

Optimism (OP) is trading at $0.13, a price that was once unimaginable for a blue-chip Layer-2 protocol.

The asset has been caught in the broader L2 de-rating trade, with fee revenue compression and token unlocks battering sentiment across the Optimism ecosystem.

However, the smart money positioning is 63% long versus only 37% short, indicating that whales and professional accounts are accumulating on the dip.

The global long/short ratio sits at 1.15, reflecting a fairly balanced market with a slight long lean.