Based on data provided by Token Terminal, Optimism’s [OP] market cap continued to grow despite a decline in the number of daily active users. This discrepancy could be a cause of concern for the layer 2 solution, as the decline in active users could negatively impact its usage and adoption.
Along with the decline in active users, the number of transactions on the layer 2 solution fell from 230,000 to 186,000 in the last week, according to Dune Analytics. This could be attributed to the higher transaction fees on Optimism, compared to other layer 2 solutions like Arbitrum.
However, the high fees could be one reason why active addresses moved away from Optimism. This could lead to a decrease in trading volume and overall usage of the protocol.
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