The Optimism network has surpassed Arbitrum in transaction volume for the first time in six months, according to July 27 data from blockchain analytics platform Artemis. Both networks are layer 2s of Ethereum that use optimistic rollup technology, which compresses and batches transactions before submitting them to Ethereum, potentially lowering transaction fees.
Optimism fell behind Arbitrum based on volume in January, as season one of its “quest” feature ended. However, it recovered the top spot on July 25 as Worldcoin launched.
Data from Artemis shows that the networks had similar levels of transaction volume from August to December 2022. In December, Optimism pulled ahead of Arbitrum but fell behind again in January. This coincides with season one of Optimism’s “quest” feature, which rewarded users for performing various on-chain activities. Arbitrum also saw a dramatic increase in volume in March, when it launched its Arbitrum (ARB) token and airdropped it to users.
In June, Optimism implemented its Bedrock upgrade to lower transaction fees, resulting in a 67% surge in transaction volume. Still, Artemis data shows that this surge was not enough to overtake Arbitrum at that time.
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Author: Tom Blackstone
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