Optimism Q1 Performance: 23% Surge in Active Users
CryptoNewsTerminal Staff17 May, 2024
Optimism Q1 Performance: 23% Surge in Active Users
Optimism (OP), an Ethereum (ETH) Layer 2 network, has announced impressive performance for the first quarter (Q1) of 2023. Key metrics indicate a significant increase in user activity and revenue. - Active Addresses: Optimism's daily active addresses jumped by 23% in Q1, reaching an average of 89,000. This growth reflects the growing adoption of the network. - Transactions: The number of daily transactions on Optimism also saw a notable increase, rising by 39% to 470,000. This surge suggests increased network utilization and user engagement. - Stablecoin Market Cap: The stablecoin market capitalization on Optimism's mainnet experienced a 32% increase, reaching $890 million. This indicates the growing use of stablecoins on the network. - Revenue: Optimism's mainnet generated $2 million in revenue during Q1, reflecting a 14% increase from the previous quarter. This revenue is primarily derived from protocol fees and transaction costs. Overall, Optimism's Q1 performance highlights the network's steady growth and increasing adoption. The surge in active users, transactions, and revenue indicates a positive outlook for the future of Optimism and the broader Ethereum ecosystem.
