The cryptocurrency market remains speculative, and the price of the token does not always reflect its utility and the metrics of technology or the network. For example, in the second half of 2025, the Optimism ecosystem demonstrated strong fundamental dynamics. Superchain accounted for 12.7% of the global cryptocurrency transaction volume and consistently maintained over 50% of the L2 market in terms of transactions since April. The volume of active loans increased by 95.8% year-on-year to $1.95 billion, and the total number of transactions reached an all-time high of 3.60 billion.
However, the price dynamics of token $OP during this period did not reflect the growth of network metrics. Throughout the second half of 2025, the price was in a downward trend and gradually decreased. Thus, a weak or even negative correlation formed between on-chain activity and market valuation.
As a result, 2025 was an example for Optimism of the divergence between fundamental metrics and market price: the ecosystem scaled and grew, while the token was under pressure.
The reasons for this state - possibly the overall condition of the cryptocurrency market (general decline).
