US Top Exchange Kraken Launches Futures Trading For Ethereum Layer 2 Token Optimism (OP)

US Top Exchange Kraken Launches Futures Trading For Ethereum Layer 2 Token Optimism (OP)

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Just In: Optimism (OP) Has Just Been Listed On Kraken Futures.

Kraken crypto exchange has listed yet another upcoming cryptocurrency on its platform. The crypto, known as Optimism (OP) will be available for trading and futures contracts on Kraken.

While announcing the new development on Twitter, Kraken intimated that the futures contracts facility featuring OP is already live on the popular trading platform. Futures contracts allow the trader/investor to deal with an asset without having direct ownership of it.

? New Kraken Futures listing:

✅ Optimism ($OP) futures contract live now!

Get exposure to $OP without owning the underlying asset. Transfer USD, USDC, USDT in your Futures wallet now to get started.

*Geo restrictions apply

➡️ https://t.co/krfmPA0Lji pic.twitter.com/BVurpOYaaa

— Kraken Exchange (@krakenfx) June 3, 2022

The exchange also took time to explain to users how to start their journey to trading OP futures contracts on Kraken. To open OP futures contracts on Kraken, users have to start by transferring their USDT, USDC, or USD to their futures wallet on the exchange. These funds act as collateral.

What Is Optimism?

According to the information on its website, Optimism (OP) is a crypto network running on Ethereum’s Layer-2 (L2) blockchain. It prides itself as equal to the Ethereum Virtual Machine (EVM), meaning that any apps that are compatible with EVM are also compatible with Optimism.

Apparently, this equivalence to EVM was achieved after an upgrade back in November 2021. Optimism mentioned this in a recent tweet as it announced a new milestone of reaching 10 million transactions since its inception.

And last but not least—with the flurry of activity yesterday, Optimism officially surpassed ten million transactions since the EVM Equivalence upgrade in November!

Not bad for just a year and a half into mainnet. ? pic.twitter.com/W12OqGZyKU

— Optimism (✨?_?✨) (@optimismPBC) June 1, 2022

OP Market Standings

A quick look at OP’s market standings on CMC reveals that the coin has had a relatively balanced day. The price currently stands at $1.36 with a 1% decrease on the daily.

OP is now at position 2,807 in the charts, with a 24-hour volume increase of 18% to reach $628 million. However, no undiluted market cap or circulating supply is shown in its stats. The diluted market cap stands at around $5.98 billion.

Normally, crypto tends to increase in price once listed on an exchange. However, it’s fair to note that the crypto market is currently undergoing a period of uncertainty. Still, it’s yet to be seen whether Optimism will follow the said trend.