Optimism's OP Falls Over 22% as Base Plans Move Off OP Stack

Optimism's OP token dropped more than 22% in 24 hours after Base decided to move away from the OP Stack to develop its own unified stack while maintaining mission-critical collaboration during the transition, Cointelegraph reported on Feb. 18, 2026. The shift means a notable share of transaction activity and one of the largest OP Stack revenue contributors will leave Optimism, with sell volume jumping over 157% to about $187 million in trades, futures flows showing more than $7.5 million in capital exiting exchanges within 12 hours, and spot flows reflecting $14.73 million in deposits versus $13.29 million in withdrawals for a net $1.45 million in OP. Long liquidations of around $1.28 million, compared with $80,000 in short liquidations, added to downside pressure, while technical factors such as the invalidation of an inverted head-and-shoulders pattern and a roughly 60% year-to-date price drop have reinforced the bearish structure. Analysts cited in the report warn that if selling persists and OP fails to hold support near $0.20, the price could slide toward or below $0.10.