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OP to USDT Converter
1 OP = 0.110398 USDT · updated 06:21 UTC
Volume Bubbles Chart (1h)
Each 1-hour candle's volume is signed by its direction (up candles count as net buying, down candles as net selling) and drawn as a bubble at the closing price, green for buying and red for selling. Bubble size and colour intensity show how strong that flow is compared with the last 300 candles: the strongest 30% get full bubbles with their USD value, the rest stay as small dots. Unusually large bubbles flag aggressive buying or selling worth a closer look, often near breakouts, reversals or key levels.Seasonal Chart
Plots one line per calendar year showing the % change since the start of that year, with the current year highlighted against up to four previous years. Lining the years up on the same calendar shows whether the price tends to rise or fall in the same months, helping you spot recurring seasonal patterns. Treat it as context rather than a forecast: past seasonality does not guarantee future moves.Optimism Markets
Optimism Historical Data
About Optimism (OP)
Optimism (OP) is the governance token of the Optimism Collective. Holders vote on protocol upgrades and on how the Collective's treasury is spent. OP Mainnet is a layer-2 network that processes transactions off Ethereum and posts the results back to it, which lowers fees. The same open-source code, the OP Stack, powers a wider group of chains called the Superchain. Price data here comes from FMchart's composite, which averages trading on several exchanges into US dollars.
Optimistic rollups and the OP Stack
OP Mainnet is an optimistic rollup. It assumes transactions are valid and allows a challenge window in which anyone can dispute a bad result. Other teams use the OP Stack to launch their own chains, and Unichain, Ink, World Chain and Soneium are examples. The Optimism Foundation says Optimism collected 5,868 ETH in revenue over the twelve months before January 2026, all of it placed in a treasury overseen by governance.
Two houses of governance
The Optimism Collective has two co-equal houses. The Token House votes with OP, so influence follows token holdings. The Citizens' House uses one member, one vote, and has run Retro Funding, which rewards projects after they have proven useful. No new Retro Funding rounds were started from May 2025, and the Collective's Year 5 budget allots none. The two houses are meant to balance token holders against the wider community.
Supply of 4.29 billion OP
OP started with 4,294,967,296 tokens, a number equal to two to the power of 32. That total is often written as about 4.29 billion. The design allows up to 2% yearly inflation, but governance has kept that rate at zero each year so far, so no new OP has been minted. In August 2026, the Foundation reported that about 53% of the supply was circulating. Much of the rest is held for the Collective's future budgets and programs.
Buybacks and Base's departure
In January 2026, OP holders approved a 12-month pilot that uses 50% of Superchain sequencer revenue to buy OP each month. Purchased tokens go to the Collective's treasury. In February 2026, Base, Coinbase's layer-2 network, announced it would move to its own stack. Base had sent about 3,765 ETH to the Collective in 2025, over 70% of all Superchain revenue share, and the Foundation said that revenue share would not continue.
Risks for OP holders
OP's value depends on activity across OP Stack chains and on revenue flowing back to the Collective. Base's exit reduced that revenue base. Rival layer-2 networks compete for users and developers, and a large share of the supply is still held for future Collective spending. Governance decides how that treasury is used. OP's price also tends to follow Ethereum and the wider market.
Last reviewed: Oct 8, 2026
Optimism (OP) FAQ
What is Optimism (OP)?
OP is the governance token of the Optimism Collective, which oversees OP Mainnet and the OP Stack. OP Mainnet is an Ethereum layer-2 network that bundles transactions to cut fees. OP holders vote in the Token House on upgrades, funding and treasury matters, including a 2026 buyback pilot.
What is the Superchain?
The Superchain is a network of blockchains built with the OP Stack, Optimism's open-source software. Members include OP Mainnet, Unichain, Ink, World Chain and Soneium. Chains in the group share sequencer revenue with the Optimism Collective. Base, formerly its largest source of revenue share, announced in February 2026 that it would move to its own stack.
Does Optimism buy back OP?
Yes, as a pilot. In January 2026, token holders approved a plan to spend 50% of Superchain sequencer revenue on OP purchases every month for 12 months, starting in February 2026. Bought tokens go to the Collective treasury. The Foundation's January 2026 announcement said they could later be burned or paid out as staking rewards.
What is the current OP price?
OP is quoted at about $0.1102 on FMchart's composite, which merges data from several exchanges. During the last 24 hours, around $4.54M of OP traded across the exchanges in FMchart's composite. One exchange's own price may be slightly different at any given moment.
How many OP tokens are in circulation?
About 2,290,771,093 OP are circulating out of a total supply of about 4.29 billion. Much of the rest is held for the Collective's future budgets and programs. At today's price, circulating OP is worth around $252.5M, which ranks it 151 among cryptocurrencies by market value.
What was the highest OP price ever?
OP's highest price on record is $4.84, set on Mar 6, 2024. Price Statistics shows how far the token now trades from that level and from its lowest price. Revenue sharing across the Superchain has changed since then, including Base's move to its own stack.
How has OP performed month by month?
In FMchart's composite price history (since June 2022), OP rose the most in July 2022 (+190.5%) and dropped the most in June 2022 (-63.1%). Those two extremes frame the Monthly Returns (USD) grid below, while Annual Price (USD) Change adds up whole years. OP has had sharp rallies as well as long declines.
Did Base leave Optimism?
Base, Coinbase's layer-2 network, announced on February 18, 2026, that it would move from the OP Stack to its own technology. The Optimism Foundation said the earlier revenue share from Base would not continue. Base had provided more than 70% of Superchain revenue share in 2025.
What is Retro Funding?
Retro Funding, earlier called RetroPGF, rewards public goods after they have proven useful rather than funding promises in advance. The Citizens' House, which votes one member, one vote, has run it. The program was paused from May 2025, and the Year 5 budget set aside no OP for it.
Is OP worth investing in?
FMchart does not make that call for readers. OP's appeal depends on usage of OP Stack chains, revenue for buybacks and competition among layer-2 networks. Base's departure removed a large revenue source, and a large share of the supply is still held for future Collective spending. OP is also volatile and tends to move with Ethereum.