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Optimism Says Ether Now Treated as Native Cryptocurrency Alongside OP Token

Representatives of the layer-2 network atop Ethereum confirmed the change in the treatment of ETH after CoinDesk observed a $550 million transfer in blockchain data. The change occurred in conjunction with Optimism's “Bedrock” upgrade this week.

By Sage D. Young|Edited by Bradley Keoun

Updated Jun 8, 2023, 8:46 p.m. Published Jun 8, 2023, 6:50 p.m.

Some $550 worth of ETH was transferred from the Optimism Gateway bridge into a smart contract on Optimism. (Unsplash modified by CoinDesk)