According to data shared by Nansen, the Layer-2 scaling solution Optimism for Ethereum has surpassed Arbitrum in daily transactions for the first time since January 2023. The sudden increase in transaction activity was first recorded on July 24, the same day the highly anticipated Worldcoin (WLD) token was launched on the Optimism mainnet.
Transaction Count on OP Reaches ATH!
Martin Lee, a data analyst at Nansen, believes that the launch of Worldcoin is likely the reason behind the increase in daily active transactions. The analyst stated that the increase in daily active transactions coincided with the launch of Worldcoin. The number of transactions on the network has continued to increase since the release of Worldcoin, reaching a record high of 944,668 (approximately one million transactions per day) on Thursday, according to Etherscan data.
Arbitrum, according to Arbiscan data on July 27, has processed 658,053 transactions. Nansen’s data also suggests that the increase in transactions is not an isolated event. Lee noted that when examining the daily active addresses on the network, “Optimism has been on a steady upward trend since Q3 23.” While Optimism Layer-2 networks have a dominant share in liquidity and network activity, the growth rate of the second network has been faster.
Optimism Surpasses Arbitrum Network!
Arbitrum’s activity significantly increased in March 2023 following the Arbitrum airdrop. However, since then, Arbitrum’s activity has been declining while Optimism’s activity is increasing. On June 6, Optimism implemented the highly anticipated Bedrock upgrade on its network, resulting in a significant reduction in transaction fees.
Nansen’s latest report highlights that Optimism now offers the lowest fees for token swaps among various Layer-2 networks, ranging from an average of $0.1 to $0.12. When comparing token swap fees, Arbitrum charges between $0.13 and $0.20, while Polygon zkEVM, zkSync Era, and Starknet charge $0.63, $0.34, and $0.56, respectively.
In the report, Sandra Leow stated that OP’s daily activity has increased, and the daily fees they pay have been halved, which is evidence of improvements in reducing gas fees after the BedRock upgrade.
