Should Optimism [OP] holders rejoice with Ethereum’s Merge coming up

ambcrypto.com:

Optimism’s OP was not left behind as the rest of the market registered double-digit price upticks over the past week. In fact, according to CoinMarketCap, the price of the Layer 2 (L2) token rallied by 16% over the last seven days. 

Designed as an optimistic rollup network to enhance the scalability of the Ethereum Chain, Optimism ranks second as the most used L2 solution provider. It’s behind Arbitrum with a total value locked of $1.60 billion.

In a Twitter thread shared on 8 September, Optimism confirmed that the transition of the Ethereum Network to a PoS consensus mechanism would not affect its operations, and deposits & withdrawals on the network will continue to “work as usual.” It further added that upon the completion of the merge, its transaction data and state roots would be posted to the PoS chain. Also, its nodes would continue to “read data from the post-Merge chain.”

At the time of writing, 1 OP token was obtainable for $1.37. Over the past week, trading volume for the cryptocurrency asset grew by 109% on the charts.

Greater liquidity was also pushed into the OP market within the period under review as key indicators rose above their respective neutral positions. At press time, the Money Flow Index was 62. The asset’s Relative Strength Index was also positioned at 54. The dynamic line of the Chaikin’s Money Flow was pegged at 0.02, above the 0.0 center line indicating growth in buying pressure. 

Source: TradingView

With the proposed launch of Optimism’s EIP-4844 and Optimism Bedrock ahead of the Ethereum Merge, it is no surprise that development activity on the network has grown over the past few months. According to Santiment, this has seen a 23% hike in the last 180 days. 

With an expectation of considerable