L2 protocol Optimism surpassed Arbitrum in terms of transaction volume

What is optimism?
What is optimism?

Optimism’s Layer 2 (L2) scaling solution outperformed rival platform Arbitrum in terms of daily transaction volume.

The chart below shows that the performance of both protocols showed strong growth throughout 2022. However, in December the gap between Optimism and Arbitrum increased significantly.

Data: The Block Crypto Data.

The increase in the L2 platform indicator occurs against the background of the rapid growth in the price of the OP token. Over the past 30 days, the asset has risen in price by more than 90%.

Arbitrum still does not have its own utility token.

Data: CoinGecko.

By indicator TVL The Optimism ecosystem is in seventh place in the DeFi Llama ranking. It is lagging behind such well-known projects as Fantom and Solana.

Data: DeFi Llama.

Below is the dynamics of TVL in the context of individual platforms that support Optimism.

Data: DeFi Llama.

The Arbitrum Ecosystem Still Leads the Ranking L2 Beat. Its combined TVL is $2.54 billion, up 72% from Optimism.

Recall that in December, MetaMask developers added support for Arbitrum and Optimism for cross-chain swaps.

Read more about the rise of L2 solutions in our 2022 insights report.

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