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#On-Chain Activity

In recent times, both the Optimism network and its native OP token have been witnessing a surge in activity and popularity.

• A remarkable milestone was achieved when Optimism transactions achieved an ATH on Wednesday (Week 34, 2023), surpassing Arbitrum transactions for the first time this year in 2023. • The recent introduction of Sam Altman's Worldcoin on the Optimism network has played a pivotal role in driving transaction numbers upwards. Users' acquisition of WLD tokens has notably contributed to this uptick. • Although transactions related to the Base protocol are not processed on Optimism's network, a portion of the fees earned by Coinbase are shared with the Optimism DAO. This collaboration has not only bolstered the DAO's revenues but also provided added impetus to the network's growth. • These collective factors have greatly supported the OP token, demonstrating a mere 1% decrease over the past 30 days (July-Augstus, 2023), a stark contrast to ARB's -18% and MATIC's -20% performance decline over the same period.

As the competition between Layer 2 solutions intensifies, it becomes increasingly evident that Ethereum stands to reap significant benefits from this evolving landscape.

Source: IntoTheBlock Show Less

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