Optimism’s OP token rose approximately 18% on October 13, 2026, trading between $0.13 and $0.16 during the session.
That single-day move caps a month in which OP climbed somewhere between 62% and 66%.
Over a matched window of roughly four weeks, Bitcoin gained around 9% and Ether gained around 3%.
The numbers behind the move
OP’s run has momentum across several timeframes. The token was up around 21% over seven days, on top of the 30-day gain of 62% to 66%.
OP’s market capitalization now sits between $350 million and $365 million. Circulating supply is around 2.3 billion tokens, against a maximum supply of 4.29 billion.
OP did not win the month outright, though. Starknet’s STRK, a competing scaling token, surged 322% over the previous four weeks.
What’s been happening under the hood
Optimism is a layer-2 network, meaning it runs on top of Ethereum to handle transactions faster and more cheaply.
The project also anchors the Superchain, its vision of many networks built on shared Optimism technology that can talk to one another.
In September 2026, Optimism governance approved Upgrade 20. The update targets better Superchain interoperability and improvements to fault proofs, the system that lets users challenge invalid transactions.
Upgrade 20 also allocates 50% of Superchain revenue to OP token buybacks, starting in February 2027.
Unichain announced its testnet migration to OP Enterprise on October 13, the same day as OP’s jump. A mainnet follow-up is planned for October 29.
Across the Pacific, partnerships in South Korea are taking shape. KB Securities and Securitize are among the names exploring tokenized money-market funds on OP Mainnet.
What this means for traders and the layer-2 race
The buybacks do not begin until February 2027, so the current price action reflects expectations rather than any buying that has already happened.
OP’s sub-$400 million market cap leaves it more sensitive to flows than the giants.
STRK’s 322% surge complicates any tidy narrative about Optimism winning the scaling wars. Capital appears to be rotating into layer-2 tokens broadly, and OP is one beneficiary rather than the only one.
With around 2.3 billion of 4.29 billion tokens circulating, future unlocks could add selling pressure that offsets some of the enthusiasm.
The near-term checklist looks fairly clear. Watch the October 29 Unichain mainnet date, any concrete announcements from the South Korean partners, and how Superchain revenue develops ahead of the February 2027 buyback start.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.