Trading activity in OP has quieted down roughly
↘16.24%
over the past week as the price finds a base.
Activity cooling across metrics
Selling pressure remained elevated with roughly 1.85x more sellers than buyers while the price moved
↘2.23%
over the past day, reflecting a pause in momentum.
Investor positioning pulling back
Interest in leveraged positions declined roughly
↘7.64%
while funding rates held near zero at approximately 0.17% annual rate, indicating reduced trading activity in the derivatives market.
Mixed performance in Layer 2
OP moved roughly
↘3.31%
over the past week while Layer 2 peers averaged roughly
↗0.49%
over the same period, showing relative weakness within the category.