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Home Altcoins

Can Arbitrum, Optimism retain their dominance in the L2 sector

November 3, 2023
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Can Arbitrum, Optimism retain their dominance in the L2 sector
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  • Arbitrum and Optimism emerged on top of the layer 2 sector in terms of net deposits.
  • In the DeFi space, Arbitrum showed the most growth.

Despite market uncertainty, the overall state of the L2 sector remained positive.


Realistic or not, here’s ARB’s market cap in BTC terms

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Arbitrum and Optimism take the lead

Optimism [OP] and Arbitrum [ARB] emerged as the leading platforms for layer-2 scaling solutions in 2023.

They have experienced growth in terms of net deposits, with $631 million flowing into Optimism and an impressive $1.67 billion into Arbitrum.

However, it’s crucial to note that not all layer-2 solutions have seen the same success. In the case of Polygon and zkSyncEra, they faced significant value outflows of $393 million and $171 million, respectively.

When categorizing these protocols, we observe a noteworthy trend. Optimistic rollups, a specific type of layer-2 scaling solution, have attracted substantial positive net flows this year.

In contrast, ZK rollups and other types of layer-2 solutions experienced outflows totaling $101 million and $393 million, respectively. These numbers indicate a diversification in the adoption and success of layer-2 solutions within the crypto ecosystem.

The substantial net deposits on Optimism and Arbitrum this year could positively impact the layer 2 sector. They indicate growing trust and usage of these platforms, making them more prominent in the crypto space.

Among L2 rollups, #Optimism and #Arbitrum have seen the highest amount of net deposits YTD. There has been $631m in net inflows on Optimism and $1.67b on Arbitrum. #Polygon and #zkSyncEra have seen the most value flight YTD, with net outflows of $393m and $171m respectively. pic.twitter.com/KJneOjZY6i

— Galaxy Research (@glxyresearch) November 2, 2023

On the flip side, the net outflows from Polygon and zkSyncEra raise concerns. It suggests that not all layer 2 solutions are equally successful, and some are facing challenges in retaining user interest and investment.

Bucketing the protocols observed by type, optimistic rollups saw positive net flows YTD, while ZK rollups and other types of L2s saw outflows of $101m and $393m respectively. pic.twitter.com/KkmJkIfbGu

— Galaxy Research (@glxyresearch) November 2, 2023

This diversification in adoption shows that the layer 2 sector is evolving, with different solutions finding their place.

See also  Solana eyes $200 price target - Here's what SOL needs to do now

It’s a sign of the market’s maturation as users explore and gravitate toward platforms that best suit their needs. However, competition remains fierce.

Arbitrum thrives in DeFi

Coming to the DeFi sector, it was seen that Arbitrum had outdone other protocols in this space in terms of TVL (total value locked), it ranked number one.

This higher TVL is a good sign for Arbitrum. It shows that users have confidence in its platform. In terms of DEX volumes, Arbitrum also did well and outdid other solutions.


Is your portfolio green? Check out the ARB Profit Calculator


DEX volumes in DeFi refer to the total amount of cryptocurrency trading that happens on decentralized exchanges. It shows how active and popular these exchanges are.

When Arbitrum has a higher DEX volume than other protocols, it means more people are trading on Arbitrum’s decentralized exchange.

Source: Artemis

Tags: ArbitrumDominanceOptimismretainsector

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