OP Surges as Upcoming Canyon Upgrade in Brings Enhancements, Jito's JTO Token Skyrockets on Launch

Daily Top Performer — Optimism (OP)

SPX index is up 0.8%, driven by positive sentiment in the technology sector, especially after Alphabet announced a new AI model. The broader cryptocurrency market is mixed, with Bitcoin dropping 0.96% and Ether rising 5.49% in the past 24 hours. 

Today’s outperformer is OP, which jumped 24.8% after the Optimism ecosystem prepared for Canyon Hardfork with key enhancements and node upgrade guidelines.

Optimism (OP), launched in December 2021, is a Layer 2 scaling solution for Ethereum, offering fast, cost-effective transactions while maintaining Ethereum's security. It aims to enhance scalability and interoperability through its Superchain platform, connecting various Layer 2 networks for simplified integration. The Canyon hard fork in the Optimism ecosystem introduces improvements like Shanghai and Capella hard fork support and bug fixes. It adjusts the EIP-1559 mechanism for base fee changes and enhances protocol handling of unclosed channels. Yesterday, the governance vote for Canyon passed successfully, meaning Canyon will be activated on OP Chain mainnets across the Superchain as of Jan 11, 2024.

Check Out the Latest Prices, Charts, and Data of OPUSDT Perp and OP/USDT Spot!

Talk of the Town:

Jito's JTO token, based on Solana, soared by 75% upon its launch, with 30% of the airdropped tokens claimed within 45 minutes. This event comes amidst a strong year for altcoins, with Solana's SOL up over 550%. The unusual 18-month claim window for JTO contrasts with the typical 30 to 90 days. At the time of the article, JTO's market cap was around $211 million, and major exchanges like Coinbase and Binance planned to list it. Altcoin market share in crypto trade volume hit 67%, the highest since March 2022. Interest in altcoins extends beyond crypto-native traders, evidenced by a 99% increase in assets under management for Exchange-Traded Products holding Solana.

Check Out the Latest Prices, Charts, and Data of JTO/USDT Spot!