- Quix pronounces plans to stop operations in two months
- OP remained unfazed as its value rallied with the remainder of the market
On 23 November, Quix, the most important NFT market on Optimism, announced its choice to stop operations by 28 February 2023.
Launched on the scalable L2 blockchain ten months in the past, knowledge from Dune Analytics revealed that 131,532 addresses concluded 300,215 NFTs exchanges on Quix.
Quix constructed an Optimism ERC-721 bridge which now types a part of Optimism’s codebase. The identical allowed for NFTs gross sales price 4,033 ETH to be transacted throughout the 10-month interval, knowledge from Dune Analytics revealed.
In accordance with the press launch, Quix said that its code would “grow to be freely out there for the group to leverage and construct with, beginning January 6, 2023.” As well as, Quix assured NFT collectors on Optimism that NFT buying and selling would quickly be redirected to OpenSea. Lastly, for NFT creators, Quix confirmed that its launchpad would stay out there until 18 January 2023.
When Optimism launched its OP token in Could, Quix volunteered to be a governance delegate. Earlier than its closing cessation, Quix confirmed that it could “proceed to take part in Optimism’s governance within the quick time period, however encourage token holders who delegated to the Quix crew to re-delegate to others.”
Curiously, when Quix introduced its choice to stop operations, Stratos, “the most important NFT market on Arbitrum,” additionally confirmed that it was winding down operations.
OP stays optimistic
Regardless of information that the most important NFT market on its community is closing down, Optimism’s native token OP continued to journey the wave of constructive value correction.
Learn Optimism’s [OP] Value Prediction 2023-2024
In accordance with CoinMarketCap, OP was buying and selling at $0.9229 at press time. Its value was up by 5% within the final 24 hours, with $70 million OP tokens traded inside the identical interval.
On the time of writing, constructive buyers’ sentiment trailed OP. Actually, in keeping with Santiment, OP’s weighted sentiment shared a constructive studying of 0.513.
It’s trite to level out that since FTX collapsed, buyers’ sentiment has oscillated between constructive and destructive. The press time constructive bias in direction of OP mirrored the overall conviction within the cryptocurrency market.
Along with this, regardless of the turmoil available in the market, many OP holders held at a revenue and have since held since August. The asset’s MVRV ratio, at press time, was 75.12%.
This urged that if all OP holders bought their tokens on the present value, they’d understand double earnings on their investments.