Ethereum-based layer-2 Optimistic Rollup network Optimism (OP) has recorded a 1,687% surge in weekly trading volumes.

The latest data from defi analytics platform DeFiLlama indicates a dramatic upswing in trading activity on Optimism, a layer 2 scaling solution anchored on Ethereum (ETH), propelling the network to a trading volume of approximately $300 million. 

An update from crypto reporter Colin Wu suggests that the surge in Optimism’s volume is primarily due to the recent security flaw on KyberSwap, which led to a loss of $46.5 million. The breach resulted in the loss of 10,049 wETH, 4,017 wstETH, and 3.98 million Arbitrum (ARB) tokens.

Quoting DeFiLlama, Wu stated Optimism’s weekly trading volume has soared by a whopping 1,800% month-on-month to surpass $12 billion in the past week, even overtaking Ethereum.

The network’s 24-hour trading volume also reached a staggering $344.98 million, while the seven-day volume totaled a remarkable $11.87 billion, registering an increase of 1687%.

The Total Value Locked (TVL) in Optimism also saw significant growth, now standing at $769.6 million. It represents a mon

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Author: Julius Mutunkei

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