According to Nansen #Optimism is about to catch up with #Arbitrum in the race of Ethereum's layer 2 networks. Nansen compared the network activities of the two networks in one of his tweets.
A notable difference was shown in the growth trajectory of daily active addresses. For Arbitrum this index exploded around the time this network airdropped. However, since then the number of active addresses on this network has continuously decreased.
On the other hand, daily active indexes on the Optimism network are increasing in June.
A similar situation occurs when we consider the number of transactions on these two layer 2 networks. For the Arbitrum network, transactions tended to go sideways for most of June. In contrast, the number of transactions on Optimism increased dramatically this month.
Breakthrough from Bedrock
The recently rolled out #Bedrock upgrade has brought a difference to Optimism users in terms of transaction fees. The upgrade mainly focuses on reducing transaction fees resulting in savings of nearly 75% per transaction. According to data provided by Dune.
Previously, the online transaction fee before upgrading was $0.57. After the Bedrock upgrade was implemented this number dropped to an average of $0.14.
These improvements have made trading fees on Optimism lower than Arbitrum. According to L2 Fees the fee to trade tokens on Optimism is $0.09 compared to 0.16 on Arbitrum.
Interest in OP increased
At the time of writing #OP is trading at $1.33, up nearly 5% in the past 24 hours. According to Santiment, the total number of $OP holders increased by 16% over the previous month.
