According to data from crypto analytics firm Artemis, the Layer 2 (L2) network Optimism (OP) witnessed an increase in daily transactions, reaching a new monthly high. Here are the reports from analytic firms on the popular cryptocurrency!
Surge in Transaction Count on OP
According to the data provider, Optimism’s daily transaction count has increased by 42% in the last 30 days, reaching 512,770. This rise is attributed to a significant increase in user activity on the chain over the past week. It was determined that the daily number of unique addresses that completed at least one transaction on Optimism increased by 45%. As of December 19, the number of daily active addresses on Optimism was 77,470. Additionally, the recent surge in OP demand coincides with an increase in transaction fees on the network.
According to Artemis’s data, on December 18, the total gas fees paid by network users reached $367,220, the highest level since the beginning of the year. Due to the growth in user activities over the past month, Optimism’s decentralized finance (DeFi) vertical also experienced an increase in total value locked (TVL). At the time of writing, the network’s TVL reached $838.77 million, a 7% increase over the last 30 days.
TVL Rally on Optimism
According to DefiLlama’s data, with the increased demand for L2 solutions this year, Optimism recorded a 65% rally in TVL. The increase in transaction fees on the chain also led to an increase in Optimism’s revenue. Data obtained from Token Terminal showed that L2’s network revenue from fees grew by 47%. Optimism’s annual revenue reached a total of $53.95 million over the last 12 months, nearly a 90% increase.
However, last week there was a decline in the total transaction volume conducted through decentralized exchanges (DEX) on the network. This could be due to the increasing network fees as demand for the L2 network continues to rise. Data obtained from Artemis showed that Optimism’s DEX volume has dropped by 56% since December 11.
