- Optimism has recorded an 11% decline in its TVL this year.
- Arbitrum, on the other hand, has recorded TVL growth in the last month.
Leading Layer 2 (L2) network Optimism [OP] has witnessed an 11% decline in its decentralized finance (DeFi) total value locked (TVL) since the year began.
This has been due to the modest retreat in the broader market’s TVL, caused by the dip in the values of most crypto assets in the last month.
According to data from CoinGecko, the global cryptocurrency market capitalization was $1.73 trillion at press time, having logged a 2% decline since the 1st of January.
This followed a 30% surge in general market cap during the bull market run between the 1st of October and the 31st of December 2023.
Optimism versus Arbitrum in the last month
While Optimism has seen a TVL decline in the last month, rival L2 network Arbitrum [ARB] has witnessed its DeFi TVL grow by 4% during the same period, data from DefiLlama revealed.
Optimism’s TVL was $795 million at the time of writing, while Arbitrum’s was $3 billion.
An on-chain assessment of network activity on both platforms showed that Optimism’s TVL decline seemed directly tied to a sharp drop in its user activity since the year began.
According to data from Artemis, the number of unique wallet addresses that complete at least one transaction on Optimism daily has dropped by 20% since the year began.
For context, as of the 1st of January, the daily active address count on the L2 totaled 74,000. By the 26th of January, it had plunged to 59,000.
In comparison, user activity on Arbitrum has climbed during the same period. Per data from Artemis, the number of daily active addresses recorded on the chain has increased by almost 10% since the year began.
Source: Artemis
However, despite the uptick in daily active address count, Arbitrum has recorded a drop in its total number of registered on-chain transactions since the year began.
On the 1st of January, the daily transaction count on the L2 was 1.1 million. By the 26th of January, this had dropped below 450,000.
OP holders remain bullish
At press time, OP exchanged hands at $3.14. The 17% price decline recorded in the last month has led to a significant decrease in the token’s Futures Open Interest.
How much are 1,10,100 OPs worth today?
According to data from Coinglass, OP’s open interest decline began on the 2nd of January and has since fallen by 36%.
Source: Coinglass
However, despite the persistent price decline, OP’s Funding Rates across crypto exchanges remain positive. This suggested that investors continue to place bets in favor of a price rally.
Source: Coinglass
- Optimism has recorded an 11% decline in its TVL this year.
- Arbitrum, on the other hand, has recorded TVL growth in the last month.
Leading Layer 2 (L2) network Optimism [OP] has witnessed an 11% decline in its decentralized finance (DeFi) total value locked (TVL) since the year began.
This has been due to the modest retreat in the broader market’s TVL, caused by the dip in the values of most crypto assets in the last month.
According to data from CoinGecko, the global cryptocurrency market capitalization was $1.73 trillion at press time, having logged a 2% decline since the 1st of January.
This followed a 30% surge in general market cap during the bull market run between the 1st of October and the 31st of December 2023.
Optimism versus Arbitrum in the last month
While Optimism has seen a TVL decline in the last month, rival L2 network Arbitrum [ARB] has witnessed its DeFi TVL grow by 4% during the same period, data from DefiLlama revealed.
Optimism’s TVL was $795 million at the time of writing, while Arbitrum’s was $3 billion.
An on-chain assessment of network activity on both platforms showed that Optimism’s TVL decline seemed directly tied to a sharp drop in its user activity since the year began.
According to data from Artemis, the number of unique wallet addresses that complete at least one transaction on Optimism daily has dropped by 20% since the year began.
For context, as of the 1st of January, the daily active address count on the L2 totaled 74,000. By the 26th of January, it had plunged to 59,000.
In comparison, user activity on Arbitrum has climbed during the same period. Per data from Artemis, the number of daily active addresses recorded on the chain has increased by almost 10% since the year began.
Source: Artemis
However, despite the uptick in daily active address count, Arbitrum has recorded a drop in its total number of registered on-chain transactions since the year began.
On the 1st of January, the daily transaction count on the L2 was 1.1 million. By the 26th of January, this had dropped below 450,000.
OP holders remain bullish
At press time, OP exchanged hands at $3.14. The 17% price decline recorded in the last month has led to a significant decrease in the token’s Futures Open Interest.
How much are 1,10,100 OPs worth today?
According to data from Coinglass, OP’s open interest decline began on the 2nd of January and has since fallen by 36%.
Source: Coinglass
However, despite the persistent price decline, OP’s Funding Rates across crypto exchanges remain positive. This suggested that investors continue to place bets in favor of a price rally.
Source: Coinglass
cost of clomiphene without prescription buy cheap clomid can i order generic clomid without rx can i buy cheap clomiphene pill order generic clomiphene without a prescription good rx clomid cheap clomiphene prices
I’ll certainly bring back to skim more.
I am in fact enchant‚e ‘ to glance at this blog posts which consists of tons of worthwhile facts, thanks representing providing such data.
semaglutide 14 mg drug – buy cyproheptadine 4 mg pills periactin 4 mg cheap
motilium canada – buy flexeril 15mg online buy cheap flexeril
augmentin 625mg canada – https://atbioinfo.com/ ampicillin ca
esomeprazole 40mg us – nexium to us buy esomeprazole 20mg generic
purchase medex pill – https://coumamide.com/ buy cozaar 50mg online
mobic 15mg pill – moboxsin meloxicam generic
deltasone 5mg uk – aprep lson buy prednisone 10mg
home remedies for ed erectile dysfunction – fast ed to take site buying ed pills online
purchase amoxicillin – https://combamoxi.com/ amoxicillin online order
buy fluconazole online cheap – https://gpdifluca.com/ buy fluconazole pill
cenforce 100mg over the counter – fast cenforce rs cenforce price
cialis at canadian pharmacy – https://ciltadgn.com/ tadalafil online canadian pharmacy
what is the generic name for cialis – what happens if a woman takes cialis vidalista tadalafil reviews
ranitidine 300mg pill – click cheap ranitidine 300mg
can you buy viagra in thailand – https://strongvpls.com/ buy viagra discount
Greetings! Jolly productive par‘nesis within this article! It’s the little changes which choice turn the largest changes. Thanks a portion towards sharing! on this site
This website really has all of the bumf and facts I needed to this participant and didn’t positive who to ask. https://buyfastonl.com/isotretinoin.html
More content pieces like this would make the web better. https://ursxdol.com/furosemide-diuretic/
This is a theme which is near to my verve… Diverse thanks! Unerringly where can I find the contact details for questions? https://ondactone.com/spironolactone/
More posts like this would create the online elbow-room more useful.
https://proisotrepl.com/product/tetracycline/
The thoroughness in this break down is noteworthy. http://furiouslyeclectic.com/forum/member.php?action=profile&uid=24633
cost forxiga – https://janozin.com/ buy forxiga
purchase xenical pills – https://asacostat.com/ brand xenical