opBNB Overtakes Arbitrum in Transaction Volume

opBNB, developed by BNB Chain, has surpassed Arbitrum in total transactions among Layer 2 networks, according to calculations by Coin98 Analytics.

#Layer2 Monthly Report | January 2024
Key Takeaways:

— #Optimism maintains lead in total addresses

— #opBNB surpasses #Arbitrum in total transactions
— #MantaPacific surpasses Base, securing 4th position with over $461M in TVL
— #Base leads in new NFTs minted
(1/24) pic.twitter.com/FegeWbL9uO

— Coin98 Analytics (@Coin98Analytics) February 7, 2024

In relative terms, the growth rate for January was higher only for Scroll (+45%). opBNB’s metric increased by 42%, Arbitrum’s by 8%, and other Layer 2 solutions ranged from 5% to 24%.

In January, opBNB processed over 136 million transactions, while its nearest competitor (zkSync) managed only 44 million. On a daily basis, this amounted to 4.4 million transactions.

In terms of TPS, opBNB’s figure for January increased 2.13 times—from 27.73 to 59.01. zkSync Era’s rose 1.22 times, from 13.87 to 16.99. Arbitrum’s metric decreased from 12.29 to 9.19.

In terms of new addresses, opBNB showed the highest growth rate in the segment (+35%) compared to 2–25% for other participants in the ranking. In absolute terms, the leaders were Optimism and Base.

In the context of TVL, Manta displaced Base from the fourth position due to a 59% surge in the metric and a 7% decline for its competitor. Blast’s total value locked increased by 21%, now amounting to half of Arbitrum’s leading figure—$1.35 billion compared to $2.59 billion.

In terms of NFTs minted, the leaders were Base (3.2 million) and zkSync (2.7 million).

Back in November, developers unveiled the opBNB roadmap aimed at enhancing performance and reducing transaction costs within the network.

On January 16, the Blast team launched a test network, simultaneously initiating a competition with a special airdrop prize. 

Previously, Ethereum co-founder Vitalik Buterin noted the “undeniable” development of rollups, highlighting Arbitrum’s transition to the “first stage.”