As Base migrates from OP Stack to its own technology stack, OP price drops over 20%

Odaily News: Following the announcement by Layer 2 solution Base that it will transition from OP Stack to its independently operated unified technology stack base/base, the price of Optimism's native token OP has fallen by over 20% in the past 24 hours.

Base stated that this move aims to accelerate development speed and reduce system complexity. In the future, node operators will need to migrate to the Base client to accommodate the hard fork. Base launched in 2023 as an OP Stack chain. According to previous agreements, a portion of its sequencer revenue was required to be contributed to the Optimism treasury. As Base shifts to an independent architecture, this revenue stream will be retained by Base itself.

Currently, OP is trading at $0.1436, down approximately 97% from its all-time high of $4.84 set in 2024. In contrast, Base has not yet issued its own token.