Optimism (OP) has extended its explosive bullish advance by recording a 19% price surge in the last 24 hours, building on its four-week gains that have reached 66%. The token traded between $0.13 and $0.16 during the session, with its market capitalization now sitting between $350 million and $365 million. The latest surge comes as Uniswap announced Unichain's testnet migration to OP Enterprise on October 13, with a mainnet follow-up planned for October 29. According to AMBCrypto analysis, OP's trading volume has doubled to approximately $250.64 million over the past 24 hours, accompanying the 19% price increase. The token recorded approximately $232.25 million in daily trading volume, with its circulating supply standing near 2.3 billion tokens against a maximum supply of 4.29 billion.
Uniswap announced on October 9 that Unichain would move its production infrastructure to OP Enterprise, with the mainnet migration scheduled for October 29. The rollout schedule identified October 13 for testnet migration and October 29 for mainnet migration. Through OP Enterprise, Optimism will operate Unichain's production infrastructure, including running sequencers on mainnet and testnet, providing remote procedure call services, monitoring network performance, and responding to operational incidents. The move provides a concrete example of a major blockchain adopting Optimism's infrastructure and could strengthen the Superchain ecosystem by supporting interoperability across OP Stack networks. Uniswap confirmed that the transition would preserve Unichain's existing chain ID, smart contracts, balances and applications, with deployments of Uniswap v2, v3 and v4 remaining unchanged.
Network on-chain sentiments are strengthening significantly, with trading volume doubling alongside surging bridge volume, whale orders, and retail orders. According to AMBCrypto analysis, bridge volume has reached levels never attained over the last two months, with each day averaging $10 million over the past week and the weekly volume totaling $702 million. The spike points to increased cross-chain activity, which in turn strengthens the bullish bias. Optimism's whale and retail orders are increasing across Spot and Futures markets, indicating growing participation among both networks. The trading volume spike points to growing market participation among both networks – whales and retail traders, supporting the continuation of the rally.
Despite the intraday pullback, Optimism remained above four closely watched exponential moving averages. The 20-day EMA stood at $0.1345, followed by the 50-day EMA at $0.1223 and the 100-day EMA at $0.1160. The 200-day EMA was positioned at $0.1422, below the latest market price. Trading above that longer-term average suggested an improvement in OP's technical structure following months of weakness. The Relative Strength Index stood at 60.40, above its moving average of 56.36, indicating positive momentum, although it remained below the conventional overbought threshold of 70. On the daily chart, the pennant pole at $0.182 stands out as the possible target in line for the network bulls, with Unichain migration and increased trading volumes potentially aiding in the bounce back of OP.
In September 2026, Optimism governance approved Upgrade 20, which targets better Superchain interoperability and improvements to fault proofs. The most significant component allocates 50% of Superchain revenue to OP token buybacks, starting in February 2027. However, the buybacks do not begin until February 2027, meaning the current price action reflects expectations rather than actual buying. The project also anchors the Superchain, its vision of many networks built on shared Optimism technology that can talk to one another. Across the Pacific, partnerships in South Korea are taking shape, with KB Securities and Securitize among the names exploring tokenized money-market funds on OP Mainnet. The near-term checklist includes watching the October 29 Unichain mainnet date, any concrete announcements from South Korean partners, and how Superchain revenue develops ahead of the February 2027 buyback start.
