Base continues to hit new milestones as it surpasses $2B in 24-hour trading volume
Optimism Weekly Overview - December 3, 2024
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Superchain Ecosystem Numbers
DeFi total value locked (TVL) across Superchain: $4.9B (+6.52%)
Assets onchain: $22B (+9.45%)
Daily average transaction volume: 10.8M (+14.90%)
Base: 8.3M (+16.90%)
OP Mainnet: 989.4K (+10.98%)
World Chain: 637.6K (+32.83%)
Lisk: 191.10K (+17.18%)
Mint: 173.2K (-0.63%)
Revenue-generating deployers on:
Base: 7,350 (+1.03%)
Zora: 134 (-4.96%)
OP Mainnet: 1,212 (-0.49%)
Superchain transaction fee total savings vs L1s:
OP Mainnet: 38,113 ETH
Base: 141,441 ETH
Zora: 1,937 ETH
Compared to Ethereum, L2 Superchain users saved a total of 181,491 ETH, or $645.6M on txn fees this week.
The percentages and metrics are pulled from the Superchain Health Dashboard and are calculated from its change over a 7-day time frame, unless noted otherwise.
Spotlight on Optimism’s Superchain
Highlighting some of the biggest updates on Optimism’s Superchain this week.
🔴 What’s happening: Base surpassed $2 billion in 24-hour trading volume for the first time, according to data on DEX Screener.
🔴 Why it matters: Base, a layer-2 network built on the OP Stack, continues to hit new highs across a number of important metrics. The rise in volume has established Base as one of the leading L2 networks within the Superchain ecosystem. It also highlights the success of the OP Stack as a foundation for chain infrastructure looking to build scalable and interoperable solutions.
This $2.13 billion milestone highlights the broader growth and adoption of onchain activities on Base as well as users coming to it for decentralized trading. Of the total 24-hour trading volume, about $623.3 million was wETH and almost $340 million was Coinbase wrapped BTC, further emphasizing Base’s role in facilitating high transaction volumes.
Last week, Base also hit a new peak for daily transactions and TVL. The network continues to display resiliency even after its recent network outage.
In general, trading volume serves as a strong indicator of activity and confidence within a network, signaling that Base has become a major player in decentralized finance (DeFi). The chain has seen increasing user engagement in its ecosystem among traders and developers.
🔴 What it means for the broader ecosystem: Base’s latest achievements highlight the overarching strength of the Superchain as a collective ecosystem. The chain also contributes to Optimism Collective’s long-term sustainability since a portion of its revenue fuels the development and growth of the ecosystem.
This recent rise enhances the appeal of the OP Stack for other developers and projects, as Base demonstrates the potential for significant growth and engagement. The network's strong fundamental metrics signal a growing ecosystem and strong adoption. The broader impact of Base’s growth goes beyond its own network as it serves as a catalyst for adoption across the Superchain ecosystem. Overall, these trends highlight the growing demands for secure, scalable, and interoperable L2’s.
What’s poppin’ on the Superchain
👤Total number of weekly active addresses by chain:
Base: 4.52M
OP Mainnet: 436.1K
Zora: 106.83K
Mode Network: 14.18K
World deployed ID Credentials to select countries to enhance global access for its network
Base TVL hit a new all-time high of $3.8B on Nov. 30, according to DefiLlama
Redstone, a gaming-centric L2 in the Superchain ecosystem, hit new peak of 186.7K daily transactions on Nov. 28 (shown below)
Source: growthepie
From the Optimism Collective
Highlighting the companies, communities and citizens bound to the Optimism Collective.
ICYMI: Burner, a way to gift friends and family crypto, is now available on the Base and Ethereum
Mint released a thread on X showcasing the network’s latest developments
RiftLend shared a video demoing its lending and borrowing platform for chains in the Superchain ecosystem
Making headlines
Optimism Joins Chainlink Scale, All Chainlink Services Are Now Live on OP Mainnet (PR Newswire on Yahoo Finance)
Phantom Wallet Adds Support for Base Blockchain Amid 'Base Season' Optimism (The Defiant)
Get into the OP Stack
Want to dive into the ecosystem full-time? Find the latest job postings here or get involved at an event below.
Based India is hosting a week of events in part with India Blockchain Week - check out the list here
Interested in learning more about the OP Stack? Check out this X spaces hosted by Staking Circle
Learn more about the Superchain ecosystem in a Optimism Contributor Essential MOOC, a digital course designed to onboard new Optimism Collective members
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.