Is Optimism’s soaring market cap masking these troubling signals

Declining active users and deals on Optimism might impact its future success.
High charges and absence of interest in the native token might add to the decrease in active users.

Based upon information offered by Token Terminal, Optimism’s [OP] market cap continued to grow in spite of a decrease in the variety of day-to-day active users. This inconsistency could be a reason for issue for the layer 2 option, as the decrease in active users could adversely affect its use and adoption.

Source: Token Terminal

How much are 1,10,100 OP worth today?

Optimism not “cost” sible anymore

Along with the decrease in active users, the variety of deals on the layer 2 option fell from 230,000 to 186,000 in the recently, according to Dune Analytics. This might be credited to the greater deal charges on Optimism, compared to other layer 2 options like Arbitrum.

Nevertheless, the high charges might be one reason that active addresses moved far from Optimism. This might result in a decline in trading volume and total use of the procedure.

Source: Dune Analytics

This impacted the income created by Optimism also, which reduced throughout this duration. Based upon details offered by Token Terminal, the total income created by Optimism reduced by 70.3% in the recently.

Nevertheless, its Overall Worth Locked (TVL) continued to reveal development in spite of these elements. According to DefiLlama, Optimism’s TVL grew from 588.6 million to 641.98 million in the previous week.

Source: Defi Llama

Time for pessimism?

However, despite the fact that the TVL of Optimism increased, the interest in OP continued to decrease. Trading volume fell from 563 million to 263 million.

Read Optimism’s

Cost Forecast 2023-2024

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