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As OP Wavers, Can ARB, zkSync, or STRK Step up to the Plate? Analyzing…

Optimism [OP] has long been a major protocol in the L2 (Layer 2) market, but its dominance is being challenged by Arbitrum [ARB]’s latest AirDrop and growing interest in protocols such as zkSync and Starknet [STRK].

According to Artemis’ statistics, zkSync has surpassed Optimism in terms of gas use over the last month, indicating a drop in Optimism’s supremacy. Starkent was close behind and was gradually coming up to Optimism.

The decrease in gas consumption might be linked to a decrease in the number of daily active addresses on the Optimism network. The number of daily active addresses on Optimism has dropped from 90,000 to 70,000 in the previous several days. Despite the danger to its supremacy, Optimism’s protocol may spark renewed interest.

Data from Token Terminal reveals a rise in the number of active developers on the network as well as an increase in code changes on Optimism’s GitHub. This shows that Optimism is working on fresh improvements and modifications to its protocol in order to attract more users.

As NFTs have become a prominent use case for layer 2 technology, the drop in NFT trades using the Optimism protocol might have a detrimental influence on its general acceptance and utilization. If the current trend continues, the Optimism protocol’s interest and acceptance may fall even more.

Despite the obstacles that the Optimism protocol experienced, its native token, OP, performed admirably. According to Santiment statistics, the price of OP has continued to grow, and the number of transactions using the token has increased.

As a result, the volume of OP increased dramatically, rising from 82 million to 243 million. This indicated that, at the time of publication, investors and users had faith in OP despite the protocol’s problems.


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