Optimism Ecosystem Gaining Traction Among Crypto Traders and Investors
Crypto traders and investors are increasingly turning to the Optimism ecosystem as a potential source of returns. Transactional activity on the scaling upstart has been steadily increasing, surpassing rival Arbitrum‘s activity, which has dropped by nearly 50% since its November peak. This activity is seen as a predictive indicator of investor interest in a blockchain ecosystem, as it suggests buyers of underlying tokens and users of decentralized applications (dApps) built on that network. Optimism is becoming an attractive option for traders and investors looking to capitalize on the 100–times–plus multiples that have been seen in prior bull–market cycles. With the increasing transactional activity, Optimism is proving to be a viable option for those looking to make a return on their investments.
Optimism Network Sees 800,000 Transactions in a Single Day
The Ethereum–based scaling product Optimism has seen a surge in activity in the past year, with over 800,000 transactions in a single day last week. This is nearly two times the network activity seen in November, and over ten times since last June. Optimism allows traders to transact on the blockchain network for under a few cents in fees and transacting times of a few seconds. This makes it faster and cheaper than other blockchain networks. Optimism is proving to be more than just hype, as the ecosystem continues to grow and more people take advantage of its features. With its low fees and fast transaction times, Optimism is becoming an increasingly popular choice for blockchain users.
Optimism’s Total Value Locked Reaches $600 Million
Optimism, a decentralized finance (DeFi) protocol, has seen its total value locked (TVL) reach just under $600 million. This is largely due to the popularity of Synthetix, a trading protocol that allows users to bet on financial derivatives without relying on third–party trading and clearing systems. This gives Synthetix a niche user market looking to invest in global assets, such as equities, at low fees. Additionally, several yield platforms on Optimism offer annualized rewards of up to 100% on some liquidity pools, further attracting investor capital. Despite this, Optimism‘s native OP tokens have seen a 3.5% decline in the past 24 hours, after a 40% run in the past week, according to CoinGecko data.
