- TVL and revenue optimism decreased, even as gas fees used on the platform increased.
- Optimism rate and network growth decreased.
According to a January 1 tweet, it was noted that Arbitrum managed to outperform other L2s such as Polygon and Optimism in terms of TVL. However, optimism still managed to dominate L2 space in other regions.
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🔥 TVL between the top 2 layer on Ethereum 🔥
– Arbitrum Space (💙, 🧡) (Arbitrum_Space) January 1, 2023
Also, according to DeFi Llama, Optimism’s TVL has dropped from $540 million to $500 million in the last 30 days. This decline in TVL also affected Optimism’s revenue, which fell 3.3% over the same period, according to data from Token Terminal.
Gas is mine, Scotty
Although Optimism’s TVL and revenue continued to decline, it managed to outperform other L2s in terms of gas utilization, according to Dune Analytics. The Layer 2 solution can outperform Arbitrum in this regard.
One of the reasons for the increasing use of gas on Ethereum [ETH] It can be attributed to the fact that users were able to save a lot of ETH using optimism.
As shown in the graph below, the amount of savings made by users on their transactions using optimism continued to grow. At the time of writing, Optimism is providing savings of up to 98.6% for its users.
However, this development did not help optimism activity in the series. Over the past 30 days, the optimism and growth velocity of the network has decreased. pointed this out That the number of times the OP has been changed has been greatly reduced.
On the other hand, a decrease in network growth indicates that the number of new addresses moving OPs has decreased.
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Optimism: The State of Tokens
Optimism will need to capture interest from the new titles to help push the price up. That seems unlikely optimism’Development activity decreased. This indicates that there will be fewer chances of new updates or upgrades that could attract new titles.
At the time of writing, the optimism is trading at $0.946. Its price has fallen by 8.87% in the last 30 days.
This caused Optimism’s market cap dominance to decline over the same period. At the time of publication, OP captured 0.02% of the total crypto market.