Optimism overtakes Arbitrum in daily transactions after Worldcoin launch

Onchain data reveals that Optimism, an Ethereum layer-2 platform, has overtaken Arbitrum in daily transactions for the first time.
Dune Analytics data indicates that Optimism clocked 844,290 transactions on July 25, surpassing Arbitrum’s 630,534 in the same period.
This surge can be associated with the release of Worldcoin (WLD), a platform led by Sam Altman, one of the figures behind the development of ChatGPT, on Optimism.

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Worldcoin has gained significant attention, despite being criticized after launching.

Optimism just surpassed Arbitrum in daily transactions for the first time in 6 months pic.twitter.com/CFd4v3LAhe— The DeFi Investor 🔎 (@TheDeFinvestor) July 26, 2023

Nevertheless, Worldcoin’s approach to distribution — an airdrop that required users to have their eyes scanned at specific global locations — has attracted over 250,000 holders.
In terms daily active wallets, Optimism still lags behind Arbitrum, recording 51,062 compared to Arbitrum’s 63,893. One can infer that while Optimism leads in transaction count, its user base is less distributed.
Besides Worldcoin deployment, another driver behind Optimism’s activity is Velodrome, a decentralized exchange (DEX) that launched its second version recently.
Velodrome’s total value locked (TVL) rose 39% in the past month, reaching $258 million, per DefiLlama‘s data.
Despite impending sell pressure anticipated from a token unlock, Optimism’s native token (OP) is up 4.5% on the last day.

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Beyond Boundaries