
Galaxy’s Alex Thorn calls Ethereum L2s ‘ETH extractive’ amid fee retention concerns
Galaxy Digital's Alex Thorn argued that post-EIP-4844 fee models favor L2 profits over Ethereum mainnet's financial health.

$101.1M traded Price signal supported
Trading Activity price-reliability indicator with 100 percent data coverage. Low activity replaces price-derived sentiment because the displayed market price may not be supported by meaningful trading.Target
Peg Health price-stability indicator with 0 percent data coverage. It measures observed market pricing, not reserve quality or redemption safety.30D +17.2% 97.8% below ATH
Price-based current market conditions indicator with 100 percent data coverage. This is not a price forecast.$101,098,157.54 traded over the last 24 hours. The available activity evidence is sufficient to retain the asset’s price-derived signal.
Low activity can make the displayed price sensitive to a handful of trades. Trading Activity assesses price reliability—not project development, legal status, reserves, or solvency.
Price movement Not interpreted while trading support is below the reliability threshold.
What it measures
The model combines reported 24-hour volume, market-cap turnover, valid-pair liquidity, active exchange breadth, and quote freshness. Missing optional evidence lowers coverage; missing volume or a known-stale quote suppresses price-derived interpretation.
Configured model weights
When inputs are missing, these configured weights are renormalized across the available evidence; data coverage records what is missing.
How to read it
Scores of 0–19 are dormant, 20–39 are thin, 40–69 are supported, and 70–100 are active. Scores below 40 withhold price-derived interpretation.
Logarithmic historical position weighs on it, while Price momentum across the scored timeframes supports the reading. Together these inputs produce a price-neutral reading rather than a price forecast.
A complete ATL and ATH range is not available for this asset.
What it measures
The model converts price momentum, logarithmic historical position, milestone recency, and short-term volume confirmation into one 0–100 score. Missing evidence lowers data coverage instead of counting as neutral.
Configured model weights
When inputs are missing, these configured weights are renormalized across the available evidence; data coverage records what is missing.
How to read it
50 is the neutral midpoint. Scores of 60 or higher are bullish, 40 or lower are bearish, and 41–59 are neutral.
Showing 10 spot markets sorted by CoinMarketCap exchange rank. Markets excluded from CMC price or volume calculations are hidden.
| Pair | |||||
|---|---|---|---|---|---|
| 1 | OP/USDT | $0.11 | $9.2M | 534 | |
| 2 | OP/USDC | $0.11 | $1.75M | 667 | |
| 3 | OP/USD | $0.11 | $3.23M | 558 | |
| 4 | OP/USDT | $0.11 | $258.25K | 445 | |
| 5 | OP/KRW | $0.11 Best price | $861.93K | 359 | |
| 6 | OP/USDT | $0.11 | $4.22M | 584 | |
| 7 | OP/USD | $0.11 | $221.95K | 439 | |
| 8 | OP/USDT | $0.11 | $4.23M | 505 | |
| 9 | OP/USDC | $0.11 | $223.8K | 390 | |
| 10 | OP/USDT | $0.11 | $1.45M | 458 |
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Galaxy Digital's Alex Thorn argued that post-EIP-4844 fee models favor L2 profits over Ethereum mainnet's financial health.

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See OP across major fiat currencies and swap the active converter instantly.
Quick SelectUsing the live USD market price. Additional fiat rates will appear after the daily sync.
Optimism is a layer-2 scaling network for the Ethereum blockchain. Optimism is designed to be as simple as possible for its features. Optimism should be composed of the minimum number of moving parts required for a secure, scalable, and flexible L2 system. This simplicity gives Optimism's design several advantages over other more complex L2 constructions.
For all its idealism, the design process behind Optimism is ultimately driven by pragmatism. The core Optimism team has real-world constraints, the projects that build on Optimism have real-world needs, and the users that engage with Optimism have real-world problems. Optimism's design philosophy prioritizes user and developer need over theoretical perfection. Sometimes the best solution isn't the prettiest one.
Optimism is in it for the long haul. Application developers need assurance that the platform they're building on will remain operational and competitive over long periods. Optimism's design process is built around long-term sustainability and not taking shortcuts to scalability. A scalable system means nothing without the ecosystem that sustains it.
Of course, none of this would be possible without a sense of optimism. Our optimism about the Ethereum vision keeps this project moving forward. We believe in an optimistic future for Ethereum, where we get to redesign our relationships with the institutions that coordinate our lives.
Optimism is an “Optimistic Rollup,” which is a fancy way of describing a blockchain that piggy-backs off of the security of another “parent” blockchain. Specifically, Optimistic Rollups take advantage of their parent chain's consensus mechanism (like PoW or PoS) instead of providing their own. In Optimism's case, this parent blockchain is Ethereum.
As of Aug 23, 2026, Optimism trades at $0.11.
Optimism has a market capitalization of $248,315,058.93.
Optimism has a 24-hour trading volume of $101,098,157.54.
Optimism reached an all-time high of $4.85, recorded on Mar 6, 2024. It is currently 97.76% below its all-time high.
Optimism recorded an all-time low of $0.081, recorded on Aug 18, 2026. It is currently 34.40% above its all-time low.