Optimism L2 Protocol Surpasses Arbitrum in Daily Transaction Volume

The layer-2 scaling solution (L2) Optimism surpassed the competing Arbitrum platform in daily transaction volume.

As the chart below shows, both protocols posted steady growth throughout 2022. However, in December the gap between Optimism and Arbitrum widened significantly.

The uptick in the L2 platform’s metric comes amid a rapid rise in the price of the OP token. Over the last 30 days, activity has surged more than 90%.

Arbitrum still lacks its own utility token.

By the TVL metric, the Optimism ecosystem ranks seventh in DeFi Llama. It trails such well-known projects as Fantom and Solana.

Below is the TVL trajectory broken down by the individual platforms supporting Optimism.

The Arbitrum ecosystem remains the leader in the L2 Beat ranking. Its total TVL stands at $2.54 billion, 72% higher than Optimism’s.

In December, MetaMask added support for Arbitrum and Optimism for cross-chain swaps.

For more on the rise of L2 solutions, read our 2022 analytical report.

Follow ForkLog’s Bitcoin news on our Telegram — cryptocurrency news, prices and analysis.