OP defies market trend to surge over 23%, market cap rises to $524 million.

October 31, according to HTX market data, OP rose over 23% against the market trend, currently quoted at $0.1211, with market capitalization rising to $524 million, reaching a near one-week high.

On the news front, the Optimism Foundation submitted a governance proposal on October 29 to rebate a portion of sequencer and priority fees in ETH to partners that bring key business activity to OP Mainnet (the rebate cap does not exceed their contributed fees, does not use OP tokens, and avoids new sell pressure). The remaining revenue can still support the existing Superchain buyback plan.

Uniswap's Unichain mainnet migration to OP Enterprise window period (the testnet was completed on October 13, and the mainnet was originally scheduled for October 29), Optimism takes over production operations and maintenance, further strengthening the Superchain ecosystem and revenue contribution.