Can OP Stack's corporate transformation propel OP coin to new highs?

TL;DR

Optimism announced a strategic transformation at the end of November 2025, focusing on enterprise-grade blockchain infrastructure. Its OP Stack has already been adopted by major companies such as Base, Unichain, and Soneium. Although on-chain data shows a TVL of $6.1 billion, indicating a short-term bullish technical signal, the OP token price is still down 93% from its all-time high, facing significant token unlocking pressure. While the company's transformation strategy has long-term potential, reaching new highs in the short term faces significant challenges.

Core Analysis

Enterprise transformation strategy

Strategic restructuring and positioning

• On November 26, 2025, Jinglan Wang, co-founder of Optimism, announced a major strategic adjustment, acknowledging previous "over-hiring and lack of strategy," and stating that the leadership, engineering, and sales teams would be unified to focus on enterprise-grade on-chain asset deployment. theblock.co
• The strategy shifts from fragmented retail hype to institutional demand, abandoning diversified investments and prioritizing dedicated enterprise deployments with clearly defined economic rules. (crypto-economy.com)

OP Stack Enterprise Adoption Advantages

• OP Mainnet is positioned as the entry point for enterprise testchain products, offering a throughput of 20 million gas per second (scalable to 100 million gas/s), a median fee of $0.00001, and a Flashblocks transaction speed of 250 milliseconds. optimism.io
• Enterprises choosing OP Stack avoid "profit-sharing farming" on other blockchains and seek economic control, offering advantages in scalability and reliability compared to Solana, Arbitrum, and Avalanche. (crypto-economy.com )

Key corporate partners

Confirmed OP Stack adopter

• Coinbase (Base) : Has become the largest contributor to the OP Stack ecosystem, with a TVL of $4.28 billion.
• Uniswap (Unichain) : A dedicated blockchain for decentralized transaction protocols.
• Sony (Soneium) : Verifiable Digital IP Applications in the Entertainment Industry
• World (World Chain) : Authentication and Payment Use Cases
• Kraken : Exchange-grade enterprise deployment

Latest enterprise-level integration

• Morpho decentralized lending fully supports the OP Mainnet; Gauntlet USDC Prime Vault is the first institutional yield product with optimized risk-adjusted yield. optimism.io
• Utila's enterprise operations platform (monthly trading volume of $10 billion+, cumulative $60 billion+, 100+ institutional clients) integrates with USDC Prime Vault to provide compliant DeFi access. optimism.io

On-chain data analysis

Hyperchain Ecosystem Performance

• Total TVL : $6.1 billion (Base $4.28 billion, accounting for 70%, Optimism $282 million, accounting for 5%)
• 30-day trend : Overall decline of 8%, but the enterprise chain shows growth momentum (World Chain +35%, Base +30% related to customized deployments).

Businesses use growth indicators

• Enterprise deployments drove an 18% increase in total ecosystem growth (transactions/daily active users), with 5 new customized chains added in 2025: Soneium, Unichain, World Chain, Lisk migration, and opBNB expansion.
• Soneium saw a 22% surge in transactions after its January launch; the Base/World Chain combination boosted daily active users by 40% (payment/identity customization use cases).

Community sentiment analysis

Core narrative shift

• Shifting from retail hype to institutional utility, Hyperchain, as a DeFi engine, enables seamless blockchain startup through OP Stack. (x.com )
• Celestia's Mustafa Al-Bassam expressed excitement about the new direction of Optimism on November 27th, stating that OP Stack is Celestia's most used rollup integration. (x.com)

Technological Innovation Trends

• Hybrid Innovation Discussion: Integrating the OP Stack with Bitcoin security (such as the BOB project) to create a revenue mechanism linked to network fees. x.com
• Interoperability is emphasized: Espresso Systems' integration with the OP Stack and Hyperchain reduces trust assumptions, enabling more secure cross-chain messaging. x.com

Technical Analysis

Current price behavior

• Current price : $0.3392 (down 93% from the all-time high of $4.84)
• Short-term signals : The 1-hour and 4-hour timeframes show bullish momentum, with the price above the key EMA and approaching the upper Bollinger Band.
• Medium- to long-term structure : The daily timeframe indicates a bearish structure, with prices below major moving averages.

Key technology level

Derivatives data

• Open interest : $82.06 million, up 1.14% in 24 hours. Increased holdings on major exchanges indicate interest in building positions.
• Funding rates : The average across exchanges is positive at 0.01%, with a slight bias towards long positions but no extreme leverage.
• Liquidation risk : Downward long liquidation is concentrated below 0.33 (cumulative $3.32 million), while upward short liquidation starts from 0.336 (cumulative $3.27 million), indicating a higher risk of downward cascading.

Potential to reach new highs assessment

Positive factors

Fundamental support

• Enterprise-level strategic transformation has long-term value, and OP Stack has a clear technological advantage in the competition.
• Major enterprise adopters (Coinbase, Uniswap, Sony) provide a stable demand base.
• Hyperchain ecosystem expansion, with the addition of customized chains driving network effects

Technical opportunities

• Short-term technical indicators: Alignment, MACD turns positive, price breaks through key EMA.
• Derivatives data supports a slight upward trend (short liquidation is higher than long liquidation, with stable positive funding rates).
• A break above the $0.40 SMA50 could trigger a trend reversal.

Major challenges

Token economics pressure

• The current market capitalization is $642 million, the total supply is 4.29 billion, and the circulating supply is 1.87 billion.
• Major token unlocks continue: 684 million tokens for core contributors and 612 million tokens for investors will unlock this week, potentially leading to significant selling pressure.

Market structure risk

• The daily chart shows a complete bearish structure, with the price below all major moving averages.
• The 8% decline in TVL reflects a shift in liquidity, which contradicts corporate narratives.
• Downside liquidation risk is high (cumulative $3.32 million), caution is advised should a breach of support levels be taken.

competitive environment

• The L2 blockchain market is fiercely competitive, with Arbitrum, Polygon, and emerging blockchains vying for market share.
• Business transformation takes time to validate and is unlikely to be reflected in token value in the short term.

in conclusion

Optimism's corporate transformation strategy represents a significant shift from speculation to practical value, and OP Stack possesses a competitive advantage in terms of technical architecture and enterprise adoption. The successful deployments by key partners such as Base, Unichain, and Soneium lay the foundation for the long-term development of the ecosystem.

However, OP token faces significant challenges in reaching new highs in the short term: it still has 93% upside potential from its all-time high of $4.84, and the pressure of unlocking a large number of tokens and the current bearish technical structure limit its upside potential . While the technical indicators show signs of a short-term rebound, a break above the key resistance level of $0.40 and confirmation of a trend reversal are needed to lay the foundation for new highs.

The value realization of enterprise transformation takes time. It is expected that OP tokens will see a revaluation opportunity in 2025-2026 as more enterprise-level applications are implemented and token unlocking pressure eases. Investors should pay attention to enterprise adoption progress, confirmation of technological breakthroughs, and changes in the macroeconomic market environment.