Daily transaction volume on the layer-2 network Optimism fell to 238,000 from a recent 800,000. The drop coincided with the end of the Optimism Quest NFT user incentive program.
In The Block Research noted that the spike in activity on the platform also coincided with rumors of a second project airdrop. In June 2022 the Optimism team distributed the native OP token among 232,000 users and hinted at a forthcoming repeat of the event.
According to researchers, during the Quest, users minted over 3.4 million NFTs.
Earlier, the network surpassed Arbitrum in terms of daily activity. However the latter remained ahead in the volume of assets locked.
Arbitrum participated in a Starbucks-backed NFT loyalty program Odyssey. However the project has not yet distributed tokens, unlike Optimism.
‘The growth in network activity serves as a reminder that speculation about a potential airdrop can sometimes drive metrics higher, as in the Odyssey case for Arbitrum,’ commented The Block analyst Arnold Toh.
Despite the drop in on-chain activity, the OP token price hit a new all-time high on January 25. The quotes reached $2.50, up 485% from the 2018 lows (CoinGecko).
As reported in ForkLog’s analytical report on the rise of L2 solutions in 2022.
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