A new market dynamic is taking shape as 10x Research notes a quiet shift in crypto market structure. Altcoins have shown unstable momentum while Bitcoin has traded in oversold territory, with investments in crypto equities and select altcoins rebalancing and some assets moving higher. The analysis points to a developing pattern of volatility and selective strength amid a broader bear-market narrative for major tokens.
The report highlights Optimism (OP) as a key example, noting that the OP-USDT price has fallen below both the 7-day and 30-day moving averages, signaling a technical bearish regime with a 24.4% drop over the past week. It also observes that the Base blockchain is gradually separating from the OP Stack, raising the possibility that existing revenue partnerships on both sides could end. In response, Optimism announced the launch of its first monthly token-buyback program, allocating 50% of remaining Superchain revenue to purchase OP on the open market.
Furthermore, the liquidity-staking protocol ether.fi has shifted all non-custodial operations onto the OP mainnet to leverage enterprise-scale scalability and bolster support for the OP ecosystem. Analysts view these moves as evidence of continued concentration of infrastructure and services around the Optimism mainnet, underscoring a selective but persistent investment in Layer-2 infrastructure. Investors are watching for timely signals as the market quietly reshapes its portfolio, with some participants refraining from high-profile bets while awaiting clearer directional cues.
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