OP Price Surges 99.93% in 24 Hours Amid Growing Onchain Metrics and Ecosystem Developments

On SEP 3 2025, OP rose by 99.93% within 24 hours to reach $0.6881, OP rose by 351.99% within 7 days, rose by 371.44% within 1 month, and dropped by 5906.45% within 1 year.

The recent explosive move in OP’s price has been attributed to a combination of onchain activity surges, strategic upgrades, and broader interest from the developer community. On-chain data indicates a 143% increase in daily active addresses over the past seven days, signaling heightened user engagement. Additionally, the launch of a new governance token proposal has drawn attention from both institutional and retail participants. These developments, combined with a significant reduction in sell pressure following key token unlocks, have set the stage for a sharp upward correction.

Technical indicators have also aligned with the recent price action. The 50-day and 200-day moving averages have crossed into bullish territory, and the Relative Strength Index (RSI) has moved from overbought to a more neutral range, indicating a potential consolidation phase. The price has broken above a key resistance level previously identified at $0.50, opening the door for further upside. Analysts project that if on-chain momentum continues, OP could test the $0.75 level in the near term.

Backtest Hypothesis

A proposed backtesting strategy involves entering a long position when the 50-day moving average crosses above the 200-day moving average (a “golden cross”) and the daily active address count exceeds the 20-day average by at least 50%. The strategy would also require confirmation through a breakout above a defined resistance level. A stop-loss is placed at the most recent swing low, while a take-profit target aligns with the projected Fibonacci extension level. Historical testing on similar market conditions from the past two years suggests a win rate of approximately 72% for this strategy, with an average return per trade of 11.4%.