Optimism's OP token drops 12% amid declining on-chain activity and capital outflows.

Optimism's OP token fell 12% following a significant capital outflow of $91.76 billion from the crypto market. The decline is linked to reduced on-chain activity and trading volume on decentralized exchanges, with total value locked (TVL) dropping to $485.95 billion. OP has entered a demand zone that previously supported price gains, suggesting a possible rebound if buying interest increases. However, a continued drop in the Accumulation/Distribution indicator could lead to further price declines, while market sentiment remains neutral, leaving the near-term direction uncertain.

As of Oct 08, 2026 10:11 WIB, OP (Optimism) trades at Rp2.189 on Pluang, down 1.00% in the last day with a market cap of Rp5,03 trillion. Despite the recent 12% drop reported in the news, Pluang data shows a more moderate decline and a strong sell sentiment with 95% of orders being sell orders. The typical holding time on Pluang is 52 days, indicating that many investors may be holding through volatility rather than selling immediately.