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Layer 2 platform Optimism (OP) has drawn many users lately. Daily unique addresses that have completed more than one transaction on the blockchain jumped 45% in the past week.
Further, Artemis data shows daily transfers on Optimism increased by 42% within the past month to a new 30-day high of 512,770. The metric hovered at 77,470 as of December 19.
The latest amplified user activity comes as the network experiences surged transaction fees. The gas charges hit a YTD peak of $367,220 on December 18.
Optimism’s monthly performance
With increased user activity within the previous 30 days, OP’s DeFi vertical also saw uptrends in total value locked. The platform’s TVL climbed 7% in the past month to press time levels of $838.77 million.
Further, Optimism has recorded a 65% year-to-date uptick in TVL as Layer 2 networks see surged demand.
OP’s increased revenue
The surged transaction charges translate to magnified revenue for the Optimism network. The fees propelled the L2’s income by 47%. Moreover, the yearly revenue jumped by around 90% within the past twelve months.
Nonetheless, transactions completed via the DEXes on the platform declined in the last seven days, potentially due to rising fees. Optimism decentralized exchange volume has dipped by 56% since December 11.
OP price outlook
Optimism was among the top gainers of the day, surging more than 12% to press time values of $2.52. Also, enhanced cues saw it gaining around 17% within the past week.
OP trades in a somewhat healthy environment, and a broad-based bull run will see the alt flying to new heights. In that context, Optimism remains among the altcoins to watch towards 2023 end.
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