Base launched as an OP Stack chain in 2023, with a portion of its sequencer revenue flowing to Optimism's treasury as part of the licensing agreement. That revenue stream will now remain with Base.
It also means that Base, the highest-revenue layer 2 in the OP Stack ecosystem, will have greater independence, but it will no longer share sequencer revenue with Optimism.
However, Optimism’s recent selloff isn’t a one-off. It has been losing ground for a while, shedding more than 53% over the past month and trading at $0.147, roughly 97% below its all-time high of $4.84, set almost two years ago. Base, by contrast, has no token.
Altcoins chase narrativesMeanwhile, the selling pressure on altcoins, over the past 13 months, has spiralled, hitting -$290 billion, Decrypt previously reported.
In the short term, Ignacio Aguirre Franco, CMO at Bitget, said to expect continued volatility and narrative-driven moves in altcoins. “Without a strong macro tide lifting risk assets broadly, altcoins are likely to trade in choppy ranges, reacting to idiosyncratic events, on-chain flows, or fleeting sector narratives,” Franco told Decrypt.
