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Following Coinbase’s announcement that its Layer-2 network, Base, would be dropping the OP Stack, a core component of the Optimism ecosystem, the OP token faced intense selling pressure.
According to the announcement, Base plans to switch to a new infrastructure it will develop itself and describes as a “unified stack,” instead of using the OP Stack. Following this decision, the OP price quickly dropped by over 20%, reaching an all-time low.
According to market analysis, Base’s decision to exit the OP Stack means the removal of a significant growth engine for the Optimism ecosystem.
In particular, Base being one of the largest and most visible projects using the OP Stack has led investors to re-evaluate Optimism’s long-term revenue and adoption expectations.
Analysts say the sharp drop in OP was not just a short-term reaction, but also accelerated an already ongoing downward trend.
This development demonstrates once again how powerful an impact network infrastructure choices and ecosystem dependencies can have on token prices, in an era of increasingly fierce Layer-2 competition.
On the OP side, investors are closely watching how the Optimism team will respond to Base’s departure.
*This is not investment advice.