The native token of the Optimism layer-2 blockchain network has seen a rise in value due to good news in the community. Binance, the biggest cryptocurrency exchange in the world by trading volume, announced its support for Optimism’s network upgrade and hard fork set for January 9, 2025, at 18:00 UTC. This announcement was a key reason for the increase.
Binance announced that it will pause deposits and withdrawals of tokens on the Optimism network starting around 17:00 UTC today to help with the upgrade. This step is meant to make the user experience smooth during the change.
The network upgrade is an important step for Optimism, aimed at improving user experience, scalability, and performance. The project wants to improve cooperation and new ideas in the OP ecosystem.
Binance’s support has boosted market feelings about Optimism, even with the pause in deposits and withdrawals. Binance assured users that trading of OP tokens would continue as usual during this time. The exchange will handle all technical parts of the hard fork and will restart deposits and withdrawals when the network is stable.
Binance also announced it will support fantom (FTM) token swap and rebranding.
