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Is Optimism’s soaring market cap masking these troubling signals

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Declining active users and transactions on Optimism could affect its future success. High fees and lack of interest in the native token could contribute to the decline in active users. 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 […]

Source: Dune Analytics

This affected the revenue generated by Optimism as well, which decreased during this period. Based on information provided by Token Terminal, the overall revenue generated by Optimism decreased by 70.3% in the last week. However, its Total Value Locked continued to show growth despite these factors. According to DefiLlama,Time for pessimism?

However, even though the TVL of Optimism increased, the interest in OP continued to decline. Moreover, trading volume fell from 563 million to 263 million.The velocity of the OP token also decreased, which implies that the frequency with which OP was being transferred amongst addresses reduced. This could suggest that the token holders were not actively trading OP.

 

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