According to IntoTheBlock, the number of daily transactions on #Optimism has increased sharply over the past month. Optimism is a layer 2 blockchain on Ethereum.
IntoTheBlock notes that daily trading volume on Optimism has increased from 10,700 to 40,000 currently. This data shows a 300% increase.
“Data shows that transactions on #Optimism increased significantly over the past month. Daily trading volume has rebounded from a low of around 10,700 to the high 40,000s.” IntoTheBlock tweeted.
Nansen, a blockchain analytics company, also reported an increase in transactions on the Optimism network. On June 26, it was reported that after the “Bedrock” upgrade on June 6, transactions on the Optimism network increased by 67%.
On June 6, the Optimism network received the “Bedrock” upgrade, which reduces deposit times, reduces Layer 1 costs, and includes additional security features.
The upgrade is one of a series of enhancements that Optimism claims will contribute to creating a “Superchain” of scalable Web3 networks based on its OP Stack software.
OP price
The recent spike in trading has not yet had a positive impact on OP price. At the time of writing, #OP the native token of the Optimism blockchain, has dropped nearly 6% in the past 24 hours to $1.26. OP's market capitalization currently stands at $809 million.
Since reaching a high of $3.28 in February, OP has continuously declined in the following days with no recovery.