Optimism transaction volumes surpass Abitrum’s for the first time in six months

The Optimism network has actually gone beyond Arbitrum in transaction volume for the very first time in six months, according to July 27 information from blockchain analytics platform Artemis. Both networks are layer twos of Ethereum that utilize positive rollup innovation, which compresses and batches deals before sending them to Ethereum, potentially lowering deal fees.Optimism fell behind Arbitrum based upon volume in January, as season among its “mission” feature ended. However, it recuperated the leading area on July 25 as Worldcoin launched.Data from Artemis reveals that the networks had comparable levels of deal volume from August to December 2022. In December, Optimism pulled ahead of Arbitrum but fell back once again in January. This corresponds with season among Optimisms “quest” function, which rewarded users for performing various on-chain activities. Arbitrum also saw a remarkable boost in volume in March, when it launched its Arbitrum (ARB) token and airdropped it to users.Logarithmic chart of day-to-day deals for Optimism and Arbitrum. Source: ArtemisIn June, Optimism executed its Bedrock upgrade to lower transaction costs, leading to a 67% rise in transaction volume. Still, Artemis data reveals that this surge was insufficient to surpass Arbitrum at that time.Related: Worldcoin launch on Optimism divides opinion– crypto community has its sayFrom July 23-26, Optimism deals increased even further, going from 490,500 to 809,070, an increase of nearly 65%, pushing Optimism into the top area between the two networks. The final two days of this duration corresponded with the July 25 launch of Worldcoin on Optimism.The current surge in Optimism activity might also be affected by the upcoming launch of Coinbases Base network, which its designers state will be connected to Optimism as part of an upcoming “Superchain.”Despite winning the race for transaction volume, Optimism is still far behind Abitrum in terms of capital transferred into its contracts, also called overall worth locked (TVL). According to blockchain analytics platform DefiLlama, Optimism has only $923 million TVL, whereas Arbitrum has more than $2 billion TVL.