• The metrics of Optimism and Arbitrum networks have diverged in the past few days.
• Optimism’s total value locked (TVL) is higher than Arbitrum at over $1.27 billion compared to $3 billion.
• Open interest of OP token has outperformed ARB token by more than 20%.
Metrics of Optimism and Arbitrum Diverge
The metrics of Optimism and Arbitrum networks have been diverging in the past few days. The most notable difference is the number of active addresses which have dropped from an all-time high of 191,612 on March 2021 to 148k for Arbitrum while Optimism’s users has been rising and reached 132,893 recently.
Total Value Locked (TVL)
Data compiled by DeFi Llama shows that Optimism’s total value locked (TVL) stands at over $1.27 billion while Arbitrum’s TVL stands at over $3 billion. Over the past 30 days, Arbitrum’s TVL has dropped by 0.40% whereas Optimism’s TVL has risen by 13%. Ethereum, Tron, and BNB Chain are currently the most active ecosystems based on their TVL numbers.
The open interest of both networks‘ tokens also show a significant divergence with Arbitrum futures standing at $160 million with no significant changes in recent weeks whereas optimism’s open interest rose to over $171 million before stabilizing at around $143 million this month. This difference can be attributed to Worldcoin – built on top of Optimism – whose WLD token has done well due to its underlying technology as well as its creator being OpenAI’s founder who introduced ChatGPT.
OP token has outperformed ARB token significantly this year with a rise of more than 20% versus 4% for ARB token in the last 30 days respectively. The next catalyst for OP is expected to be further developments within its ecosystem such as new products or platforms released or supported by it or related projects such as ChatGPT that use OP tokens as fuel or collateral in their systems .
Optimism and Arbitrum have seen divergent trends in terms of metrics such as number of users, total value locked (TVL), and open interest between their respective tokens OP and ARB which can be attributed to Worldcoin’s success built on top of Optimism as well as other upcoming developments within these two layer- 2 networks‘ ecosystems that could result in further price appreciation for OP token in particular .