Op goes to $100.
What is Op, and why am i writing about it today?
Optimism, in the context of blockchain technology like Ethereum, is a technique that enhances scalability by processing transactions off-chain in batches before settling them on the mainnet. Instead of individually processing each transaction on Ethereum's main blockchain, Optimism aggregates multiple transactions off-chain, thereby reducing congestion and fees. This approach boosts transaction speed and efficiency while maintaining Ethereum's security through periodic verification and settlement on the mainnet. Think of it like a faster lane on a highway that allows more transactions to flow swiftly without clogging up the main road, making decentralized applications (dApps) more practical and accessible by addressing Ethereum's scalability challenges.
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Op has recently transitioned to Stage 2.
What is Stage 2?
This is the final stage where the rollup becomes fully managed by smart contracts. At this point, the fraud proof system is permission-less, and users are given ample time to exit in the event of unwanted upgrades. The Security Council’s role is strictly confined to addressing soundness errors that can be adjudicated on-chain, and users are protected from governance attacks.
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So, why do i believe Op is ready for lift-off?
Based on our primary theory, Op is currently in a macro bullish nest.
A bullish nest consists of 1-2 sequences in Elliott Wave Theory. It can be likened to a consolidation phase where each preceding 1-2 sequence decreases in size, accompanied by seemingly reduced momentum. People often lose patience and are shaken out just before the parabolic expansion, (which we are identifying as the macro wave 3), unfolds.
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My estimated target for wave 3 sits at $20
My estimated target for wave 4 sits at $7
My estimated target for wave 5 sits at $100.
All of this is set to take place into 2025.
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🌙
Optimism, in the context of blockchain technology like Ethereum, is a technique that enhances scalability by processing transactions off-chain in batches before settling them on the mainnet. Instead of individually processing each transaction on Ethereum's main blockchain, Optimism aggregates multiple transactions off-chain, thereby reducing congestion and fees. This approach boosts transaction speed and efficiency while maintaining Ethereum's security through periodic verification and settlement on the mainnet. Think of it like a faster lane on a highway that allows more transactions to flow swiftly without clogging up the main road, making decentralized applications (dApps) more practical and accessible by addressing Ethereum's scalability challenges.
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Op has recently transitioned to Stage 2.
What is Stage 2?
This is the final stage where the rollup becomes fully managed by smart contracts. At this point, the fraud proof system is permission-less, and users are given ample time to exit in the event of unwanted upgrades. The Security Council’s role is strictly confined to addressing soundness errors that can be adjudicated on-chain, and users are protected from governance attacks.
---
So, why do i believe Op is ready for lift-off?
Based on our primary theory, Op is currently in a macro bullish nest.
A bullish nest consists of 1-2 sequences in Elliott Wave Theory. It can be likened to a consolidation phase where each preceding 1-2 sequence decreases in size, accompanied by seemingly reduced momentum. People often lose patience and are shaken out just before the parabolic expansion, (which we are identifying as the macro wave 3), unfolds.
---
My estimated target for wave 3 sits at $20
My estimated target for wave 4 sits at $7
My estimated target for wave 5 sits at $100.
All of this is set to take place into 2025.
---
🌙
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