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Daily transaction volume on the Optimism Tier 2 network has dropped to 238,000 from a recent 800,000. The drop coincided with the end of the Optimism Quest rewards program for NFT users.
The Block Research noted that the surge in activity on the platform also coincided with rumors of a second airdrop for the project. In June 2022, the Optimism team distributed the native OP token to 232,000 users and hinted at a future repeat of the event.
What is Optimism (OP)?
Over 3.4 million NFTs have been created by users during Quest, according to researchers.
Previously, the network surpassed its competitor Arbitrum in terms of daily activity. However, the latter retained its leadership in terms of the volume of blocked funds.
Arbitrum took part in the Odyssey NFT loyalty program jointly with Starbucks. However, the project has not yet carried out the distribution of the token, unlike Optimism.
“The increase in activity on the network is a reminder that speculation about a potential airdrop can sometimes cause numbers to rise, as in the case of Arbitrum’s Odyssey,” commented The Block analyst Arnold Toh.
Despite the drop in on-chain activity, the price of the OP token reached its all-time high on January 25. Quotes hit $2.5, up 485% from 2018 lows (CoinGecko).
Data: CoinGecko.
Recall that ForkLog spoke in an analytical report about the heyday of L2 solutions in 2022.
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