Coinbase Exit Optimism Leads ICM Coin’s 23% Collapse to New All-Time Low

Optimism fell to a new all-time low after heavy selling severely squeezed recent demand. The price of OOP collapsed by 23% in 24 hours, exacerbating an already fragile downward trend. Weak liquidity and deteriorating sentiment have weighed on altcoins for weeks.

The decline accelerated after the Coinbase Layer 2 Base network confirmed that it was transitioning from the OpStack. Pace has announced plans to develop its own unified technology stack. This decision removed a major catalyst for the ecosystem, further strengthening the downside momentum.

The whales of Optimism in action

Whale addresses continue to accumulate OB tokens despite heavy selling. Portfolios containing between 1 million and 10 million OP added a total of 60 million OP in the past month. At current prices, this accumulation is worth about $8.43 million.

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These purchases indicate long-term conviction among the main holders. Whales often gather during surrender phases to prepare for recovery. However, general market weakness still prevails. General uncertainty and low risk appetite limited the impact of whale support on the OOB price.

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Derivative data reflects a persistent bearish position. The settlement chart shows that the OB contracts Highly biased Towards sales transactions. It appears that traders are positioning themselves to take advantage of the continued decline rather than trying to recover.

Short deals are approaching $7.9 million. This imbalance indicates a strong conviction among bearish participants. As long as futures traders defend the downside momentum, rallies may face resistance from selling and heavy hedging.

The OP price continues its journey towards historic lows

Optimism coin price is currently trading at $0.143 after breaking a record high New all-time low At $0.140. The rapid decline highlights the structural weakness. Selling pressure continued at the same pace after Pace’s announcement.

An altcoin is down 61% from its peak in 2026. Technical indicators show few signs of stabilization. A continued move below the $0.140 level may expose the next support at $0.119. Such a decline will increase losses for new buyers.

The possibility of recovery remains possible if the accumulation processes strengthen. If whale flows begin to impact liquidity conditions, OP may try to repay. Restore the level $ 0.181 as Support will be invalidated The immediate bearish scenario indicates renewed investor confidence.