Gate.io Blog Optimism’s Layer 2 Daily Transactions Surpass Arbitrum’s

Optimism’s Layer 2 Daily Transactions Surpass Arbitrum’s

08 August 15:52

[//]:content-type-MARKDOWN-DONOT-DELETE
![](https://gimg2.gateimg.com/image/article/1690791857hotspot.jpeg)
## Introduction
<a href="/price/optimism-op" target="_blank" class="blog_inner_link">Optimism</a> and Arbitrum are the two-leading layer-2 blockchains based on the <a href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> network. The two provide a scaling solution to the Ethereum blockchain since it has limited transactional capacity. There has been much comparison between the two using their network activity. This analysis compares the current performance of Optimism [and Arbitrum](https://www.gate.io/learn/articles/a-deep-dive-into-arbitrum/487 "and Arbitrum"). 
## Optimism Outperforms Arbitrum 
On-chain data shows that Optimism’s daily transactions surpassed that of Arbitrum within the last week of July. The market is yet to find out if that trend will continue into the future. On 27 July Artemis, a blockchain analytic platform, published data which indicates that Optimism had been recording more transaction volume than Arbitrum during the last week of July.

It is important to note that both Optimism and Arbitrum use optimistic rollup technology to compress and bundle transactions into batches before submitting them to the Ethereum mainnet, a move that has helped to reduce congestion and lower gas fees on the network.

According to Artemis, both layer-2 blockchains had similar levels of transactional activity between August and December 2022. However, in December Optimism registered a higher [transaction volume than Arbitrum](https://www.gate.io/learn/articles/what-is-arbitrum/204 "transaction volume than Arbitrum") but that was short-lived. In January 2023, Arbitrum surpassed Optimism again in terms of daily transactions.

According to Artemis, Optimism’s transaction volume surpassed that of Arbitrum in December due to its “quest” feature used for rewarding users for various activities they carried out on the blockchain.

In a turn of events, Arbitrum recorded a higher volume than Optimism in March when [it launched its airdrop](https://www.gate.io/blog_detail/1065/tgf5zxigmibqcm9qzwn0ifrvdxi6iehvdyb0bybqcmvwyxjligzvcibbcmjpdhj1bsbbaxjkcm9w "it launched its airdrop"). The following graph summarizes the performance of the two blockchains between July 2022 and July 2023.

Read also: [OP Price Prediction & Forecast for 2023, 2025, 2030](https://www.gate.io/price-prediction/optimism-op "OP Price Prediction & Forecast for 2023, 2025, 2030")
![](https://gimg2.gateimg.com/image/article/16914810291.png)
Daily Transactions for Optimism and Arbitrum - Artemis

As observed on the diagram, Arbitrum had higher daily transactions than Optimism between January and July this year. However, a few days before the end of July Optimism’s daily transactions surpassed that of Arbitrum. 
## Reasons for the Surge in Daily Transactions on Optimism
There are a number of reasons why Optimism’s daily transaction has surpassed that of Arbitrum. First, in June Optimism launched its Bedrock Upgrade as a measure to lower its transaction fees. That upgrade resulted in a 67% increase in its transaction, although it was not enough to surpass Arbitrum’s.

Also, between 23 and 26 July the transaction volume on Optimism surged by 65%, from 490,500 to 809,070, which saw it overtaking Arbitrum. The launch of Worldcoin, a cryptocurrency linked to Sam Altman, ChatGPT creator and OpenAI’s co-founder, on Optimism on 25 July further increased its network activity.

In fact, since the beginning of June when the Worldcoin developers introduced user accounts on Optimism there was a remarkable increase in its activity. For instance, on 1 June the daily transactions increased by about 240%, from 277,000 to 944,000. In contrast, Arbitrum’s daily transactions decreased from 745,000 to 660,000 during the same period.

There is no doubt that the launch of Worldcoin on Optimism changed the scale in its favor. The following graph shows the increase in WorldApp wallets.
![](https://gimg2.gateimg.com/image/article/16914810612.png)
WorldApp Wallets- Dune

As the diagram shows, there has been an astronomical increase in the number of Worldcoin holders. At the time of writing, there are 1,100,857 wallets that hold Worldcoin. It is essential to note that most of these users have migrated to Optimism.

Another factor that might have positively impacted Optimism’s metrics is the expected launch of Coinbase’s Base network which the developers have said will be connected to Optimism. That might have helped to increase investor confidence in the <a href="/price/optimism-op" target="_blank" class="blog_inner_link">Optimism crypto</a>.

There were also several changes in Optimism’s statistics. For example, the increase in daily transactions was accompanied by a rise in its transaction fees and revenue. In addition, according to Santiment there was also an increase in Optimism’s whale activity. Yet the whale activity on Arbitrum decreased.

Nevertheless, the social dominance of Arbitrum token (ARB) and Optimism (OP) remained high during that period. Such dominance shows that both cryptocurrencies are still popular in the crypto market.

Although the above statistics seem to indicate that Optimism outperformed Arbitrum in all respects. That is not the case. Arbitrum has been leading in some of the aspects.  For example, Arbitrum had a higher total value locked than Optimism.

According to DeFiLlama, Arbitrum had a total value locked of 5.9 billion, with a 57.8% market share, despite a recent dip. On the other hand, Optimism had an all-time high total value locked of $2.8 billion after it recorded a 30% increase from that of June.

By that time, it had a market share of 27.3%. Also, on-chain data shows that Arbitrum had more daily active users than Optimism since it had 123,000 compared to Optimism’s 89,000. It is also important to note that the total activity in these two L2 blockchains accounts for 85% of the entire Ethereum L2 ecosystem. 
## OP and Arbitrum Token Market Outlook
At the time of writing, the [ARB price](https://www.gate.io/price/arbitrum-arb "ARB price") is $1.14, having lost 0.71% and 3.40% within the last 24 hours and 7 days respectively. Again, this token, with a circulating supply of 1.3 billion and a market cap of $1,447,076,710 has a 24-hour trading volume of $112,736,709.

On the other hand, the [Optimism price](https://www.gate.io/price/optimism-op "Optimism price") is $1.69 after gaining 1.58% and 6.39% within the last 24 hours and 7 days respectively. It has a circulating supply of 720 million, a market capitalization of $1,209,553,877 and a 24-hour trading volume of $90,792,622.09. 
## Where to Buy OP and ARB
You can buy OP and ARB tokens on major crypto exchanges, including Gate.io which is well-known for its high security standards and efficiency. To start trading OP [and ARB at Gate.io](https://www.gate.io/uk/price-prediction/arbitrum-arb "and ARB at Gate.io") you should have a verified account. You can also convert any major cryptocurrencies like ETH, USDT or BTC you hold in your Gate.io account to OP and ARB. 
## Conclusion 
Optimism recently surpassed Arbitrum in various metrics like daily transactions. However, Arbitrum remains the leader in terms of total value locked. The two Ethereum L2 blockchains account for 85% of the entire L2 ecosystem. The current price shows that OP has gained while the ARB token has lost value within the last 24 hours. Individuals and institutions can buy ARB and OP on Gate.io centralized exchange.
## FAQs About Optimism and Arbitrum layer-2 blockchains
### What is Optimism coin?
Optimism coin is the native cryptocurrency for Optimism layer-2 blockchain that exists on the Ethereum blockchain. Optimism blockchain offers a scaling solution to the Ethereum network. 
### What is Arbitrum?
Arbitrum is a layer-2 blockchain that exists on the Ethereum blockchain. Arbitrum’s main function is to provide a scaling solution to the Ethereum blockchain which helps to reduce its congestion and transaction fees. 
### What are similarities and differences between Optimism and Arbitrum?
Both Optimism and Arbitrum are layer- 2 blockchains that offer scaling solutions to the Ethereum blockchain. They both use rollups to process transactions off-chain and bundle them before relaying them to the Ethereum mainnet. The main difference between them is that Optimism uses single round proofs while Arbitrum uses multi-round proofs.

<div class="blog-details-info">
<div>Author:** Mashell C.**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

BTC/USDT + 3.50%

Introduction

Optimism Outperforms Arbitrum

Reasons for the Surge in Daily Transactions on Optimism

OP and Arbitrum Token Market Outlook

Where to Buy OP and ARB

Conclusion

FAQs

Unbox Your Luck and Get a $6666 Prize

Optimism’s Layer 2 Daily Transactions Surpass Arbitrum’s

Select language and region

Fiat Currencies