@noahsmybro That didn't work for me. I thought it was flow too but I wasn't even connected. However, I did figure out my issue and I thought I would post it here for others.
I tried enabling notifications for the "News" feature. This forced Opera to show up in the notification settings for my iPhone. Then I was able to disable it within the iPhone notifications settings for Opera. Once I did that - poof - no more red notification circle on the app.