Close Menu
  • Crypto News
  • Markets
  • Bitcoin
  • Ethereum
  • XRP
  • Altcoins
  • Technology
  • More
    • Crypto Prices – Latest from BTC, ETH & XRP
    • NFT
    • DeFi

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Trending

We Asked 4 AIs How High Ripple (XRP) Will Go in 2025: The Answers Might Shock You

July 6, 2025

‘Should Be About $200 Trillion’

July 6, 2025

SFT Protocol Partners with Satoshi Network to Expand Web3 Adoption and GamiFy DeFi

July 6, 2025

Coinbase Executive Responds to Claims That the Largest Ethereum Short Position in History Has Been Opened

July 6, 2025

USELESS Price Hits All-Time High at $0.2952, Top Holder Gains $7.5 Million Profit 

July 6, 2025
Facebook X (Twitter) Instagram
  • Advertise
en English
nl Nederlandsen Englishfr Françaisde Deutschit Italianoru Русскийes Españolzh-CN 简体中文hi हिन्दीja 日本語
Crypto Observer
  • Crypto News

    We Asked 4 AIs How High Ripple (XRP) Will Go in 2025: The Answers Might Shock You

    July 6, 2025

    Bitcoin’s True Value Is Higher Than $110,000, Expert Warns

    July 6, 2025

    Why Is BONK’s Price Up by 50% Weekly?

    July 6, 2025

    Bitcoin Consolidation Continues: These Are Two Key Support Levels To Watch

    July 6, 2025

    Ethereum Price Fell 2% In June But Has These 4 Bullish Signs Going Into July

    July 6, 2025
  • Markets
  • Bitcoin
  • Ethereum
  • XRP
  • Altcoins
  • Technology
  • More
    • Crypto Prices – Latest from BTC, ETH & XRP
    • NFT
    • DeFi
Facebook X (Twitter) Instagram
Crypto Observer
Home » Technology » Optimism weekly trading volume soars 1687%, TVL hits $769m
Technology

Optimism weekly trading volume soars 1687%, TVL hits $769m

Crypto Observer StaffBy Crypto Observer StaffNovember 27, 2023No Comments3 Mins Read
Facebook Twitter Pinterest Reddit Telegram Email LinkedIn Tumblr
Share
Facebook Twitter LinkedIn Pinterest Email

Ethereum-based layer-2 Optimistic Rollup network Optimism (OP) has recorded a 1,687% surge in weekly trading volumes.

The latest data from defi analytics platform DeFiLlama indicates a dramatic upswing in trading activity on Optimism, a layer 2 scaling solution anchored on Ethereum (ETH), propelling the network to a trading volume of approximately $300 million. 

An update from crypto reporter Colin Wu suggests that the surge in Optimism’s volume is primarily due to the recent security flaw on KyberSwap, which led to a loss of $46.5 million. The breach resulted in the loss of 10,049 wETH, 4,017 wstETH, and 3.98 million Arbitrum (ARB) tokens.

According to DeFiLlama, in the past week, Optimism DEX’s weekly trading volume increased by 1,800% MOM to more than $12 billion, significantly setting a record high, surpassing Ethereum. However, this increase was due to a vulnerability attack on KyberSwap, which was transaction…

— Wu Blockchain (@WuBlockchain) November 26, 2023

Quoting DeFiLlama, Wu stated Optimism’s weekly trading volume has soared by a whopping 1,800% month-on-month to surpass $12 billion in the past week, even overtaking Ethereum.

The network’s 24-hour trading volume also reached a staggering $344.98 million, while the seven-day volume totaled a remarkable $11.87 billion, registering an increase of 1687%.

The Total Value Locked (TVL) in Optimism also saw significant growth, now standing at $769.6 million. It represents a monthly increase of 24.42% and a weekly increase of 4.45%. However, the network’s TVL over the last 24 hours shows a slight dip of 1.76%. 

In contrast, Ethereum, which holds the title of the largest blockchain network by TVL, has experienced a noticeable dip in trading activity. The current volume hovers at around $710.17 million. Its weekly trading volume amounts to $9.17 billion, well below that of Optimism, indicating a weekly drop of 8.03%.

The likes of Tron (TRX), Linea, and Starknet also witnessed increases in their trading activities. Weekly trades on Tron went up 98.2% while those on Linea jumped 604%.

However, other top-tier chains such as Solana (SOL), Arbitrum, Polygon (MATIC), and Avalanche (AVAX) have also seen significant decreases in weekly trading volumes. 

On Solana, weekly trading volumes are down 11.3%, even as its native cryptocurrency SOL, registered a 4.6% price drop in the same period.

Per DefiLlama, Arbitrum’s weekly trading volume amounted to $247.73 million, a 27.85% decline over the previous seven days. Polygon also fared relatively poorly, with its weekly trading volume numbers dipping by more than 39% to settle at $87.27 million. 



Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

TON Offers UAE Golden Visa for $100K Staked, Promises 3–4% Yields

TON Offers UAE Golden Visa for $100K Staked, Promises 3–4% Yields

July 6, 2025
Secret Service Seizes $400M in Crypto, Builds One of World’s Largest Wallets

Secret Service Seizes $400M in Crypto, Builds One of World’s Largest Wallets

July 6, 2025

Rewards Bunny Integrates with AIDEN to Revolutionize Web3 Engagement

July 6, 2025

OKX Wallet Integrates peaq Network for Seamless DePIN Access

July 6, 2025
Add A Comment

Leave A Reply Cancel Reply

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Top Posts

We Asked 4 AIs How High Ripple (XRP) Will Go in 2025: The Answers Might Shock You

July 6, 2025

‘Should Be About $200 Trillion’

July 6, 2025

SFT Protocol Partners with Satoshi Network to Expand Web3 Adoption and GamiFy DeFi

July 6, 2025
Advertisement
Demo

Crypto Observer is your one-stop website for the latest crypto news and updates, follow us now to get the news that matters to you.

Facebook X (Twitter) Instagram
Crypto News

Bitcoin’s True Value Is Higher Than $110,000, Expert Warns

July 6, 2025

Why Is BONK’s Price Up by 50% Weekly?

July 6, 2025

Bitcoin Consolidation Continues: These Are Two Key Support Levels To Watch

July 6, 2025
Get Informed

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Facebook X (Twitter)
  • Privacy Policy
  • Terms of use
  • Advertise with us | Publishing
  • Contact us
  • Crypto News – Press release
  • Newsletter sign up
  • Markets
  • Altcoins
  • Bitcoin
  • Crypto News
  • DeFi
  • Ethereum
  • Technology
  • Blockchain
  • AI
  • NFT
  • Thanks for joining us
© 2025 Crypto Observer. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.