Popular Ethereum (ETH) layer-2 scaling solution, according to leading crypto analytics firm IntoTheBlock Optimism Witnessed strong address growth since January happened.
What a year for @Optimism! The network currently counts over 5.9 million addresses with a balance, up 391% from 1.2 million in January!
🔗https://t.co/b6bBM1Qd6z pic.twitter.com/58gPngqEk3NEWS CONTINUES BELOW— IntoTheBlock (@intotheblock) December 21, 2023
IntoTheBlocknoted that Optimism’s network currently has more than 5.9 million addresses with a balance greater than 0, marking a strong 391% increase from the 1.2 million addresses the project had in January.
Optimism’s native token OP price also increased during this period. The 40th-ranked crypto asset by market cap is trading at $2.58 at the time of writing and is up nearly 16% in the last 24 hours. OP has also increased by an average of 180% since the beginning of the year.
Despite the increase in addresses, the network still lags behind Ethereum scaling solution rival Arbitrum (ARB) in terms of daily transactions.
As Koinfinans.com reported, Optimism processed approximately 444,000 transactions on Thursday, while Arbitrum recorded more than 795,000 transactions.
However, both projects remain ahead of Coinbase’s newly launched Ethereum scaler Base, which witnessed around 304,000 transactions on Thursday.
Coinbase officially launched Base in August. The project, supported by Optimism, does not currently have a native token. Ethereum is designed to be compatible with Ethereum layer-2s and alternative layer-1 blockchains.