One of these factors is the decline in L2 gas usage. This decline in gas usage could lead to lower activity on theAnother factor that could impact the protocol is the end of the Optimism Quest NFT collection. The collection, which was a four-month incentive program, managed to attract a lot of users to the Optimism protocol, but after it ended, the protocol had a difficult time attracting new users.
This resulted in a decline in the number of unique active users exchanging Optimism NFTs, which is a cause for concern.According to the token terminal’s data, the revenue generated by Optimism fell by 48.6% in the last 24 hours. This decline in revenue is a sign that the growth of the protocol could slow down.It should be noted here that the network growth of the OP token took a hit after 2 February. OP holders planning to go long should take this as a major sign of concern.
Moreover, the number of daily active addresses also decreased. This decline in the activity of the token could suggest a bearish future for OP ahead.