- Declining lively customers and transactions on Optimism may have an effect on its future success.
- Excessive charges and lack of curiosity within the native token may contribute to the decline in lively customers.
Primarily based on information supplied by Token Terminal, Optimism’s [OP] market cap continued to develop regardless of a decline within the variety of day by day lively customers. This discrepancy could possibly be a reason for concern for the layer 2 resolution, because the decline in lively customers may negatively influence its utilization and adoption.
How a lot are 1,10,100 OP price at present?
Optimism not “payment”sible anymore
Together with the decline in lively customers, the variety of transactions on the layer 2 resolution fell from 230,000 to 186,000 within the final week, in keeping with Dune Analytics. This could possibly be attributed to the upper transaction charges on Optimism, in comparison with different layer 2 options like Arbitrum.
Nonetheless, the excessive charges could possibly be one purpose why lively addresses moved away from Optimism. This might result in a lower in buying and selling quantity and general utilization of the protocol.
This affected the income generated by Optimism as effectively, which decreased throughout this era. Primarily based on data supplied by Token Terminal, the general income generated by Optimism decreased by 70.3% within the final week.
Nonetheless, its Complete Worth Locked (TVL) continued to indicate development regardless of these components. In response to DefiLlama, Optimism‘s TVL grew from 588.6 million to 641.98 million previously week.
Time for pessimism?
Nonetheless, regardless that the TVL of Optimism elevated, the curiosity in OP continued to say no. Furthermore, buying and selling quantity fell from 563 million to 263 million.
Learn Optimism’s [OP] Value Prediction 2023-2024
The rate of the OP token additionally decreased, which means that the frequency with which OP was being transferred amongst addresses decreased. This might recommend that the token holders weren’t actively buying and selling OP.
The declining exercise on the Optimism protocol coupled with the lowering curiosity within the token may influence the protocol and OP holders negatively in the long term. On the time of writing, the worth of OP was $2.02. It decreased by 10.60% within the final 24 hours, in keeping with CoinMarketCap.
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