Optimism's Remarkable Market Movement and Its Impact on Crypto

Aug 22, 2023

Optimism's Remarkable Market Movement and Its Impact on Crypto

Aug 22, 2023

Optimism's Remarkable Market Movement and Its Impact on Crypto



Optimism, the Layer 2 scaling solution for Ethereum, has seen a significant surge in its market cap recently, with an increase of $300 million in just a week. This robust movement can be attributed to several factors, chief among them being the migration of @worldcoin to the $OP mainnet.

In this article, we're diving deep into Optimism’s current landscape, its key projects, and where the 'smart money' is headed.


1. Optimism's On-Chain Metrics: A Mixed Bag


  • Total Value Locked (TVL): Optimism boasts a TVL of $901 million, which peaked at $1.14 billion.

  • Volumes: Over the past seven days, the network recorded $400 million, in stark contrast to Arbitrum's whopping $2.3 billion.

  • Active Users: With 146k users, it's slightly behind Arbitrum’s 173k.


Although these figures show Optimism trailing behind Arbitrum, the platform's ambitious roadmap points towards a promising future.


2. Key Projects Powering Optimism


a. Velodrome


The first ve(3,3) dex to scale successfully, Velodrome stands out as Optimism's liquidity hub. The recent launch of Velodrome v2 brought significant upgrades, notably in the fee structure, establishing it as the most lucrative Dex in the crypto realm today.


b. Synthetix


It's a unique protocol that facilitates the creation of synthetic assets using the $SNX token as collateral. With Synthetix v3 on the cards, the key feature to watch out for is multi-collateral synthetic mints.


c. Kwenta


Built atop Synthetix, Kwenta is a perpetual Dex that offers a vast array of synthetic assets. Its position, right after DYDX and GMX in cumulative volume, speaks volumes about its accomplishment.


3. The OP Superchain Ecosystem: The Future is Modular


Last year, Optimism rolled out the OP stack, essentially offering free code libraries for developers to craft their Layer 2 solutions. This move towards modularity is intended to aggregate these chains into one SUPERCHAIN. The strategy involves a shared sequencer to ensure maximum compatibility between chains without compromising on security.


A few significant names currently using the OP stack are:


  • @BuildOnBase (soon on Mainnet)

  • @BNBCHAIN (Testnet is live)

  • @ourZORA (Mainnet launched)

  • @pgn_eth (Live on Testnet)

  • @worldcoin (Mainnet is now live)

  • @cLabs (Launched on Mainnet)


With Coinbase and Binance in the fray, the crypto community is eagerly watching the developments.


4. Tracking Smart Money: Whale Movements


A specific whale seems to be betting big on $OP with a current position of $157k, marking a 13% gain. This investor's other significant holdings include:


  • $OX valued at $112k

  • $CNC worth $96k

  • $VEGA standing at $73k


For those keen on tracking this investor, here's the link to the wallet.


All the analysis is derived from @loch_chain, an analytical tool under development.


In conclusion, while Optimism might be witnessing a mixed bag in terms of metrics compared to Arbitrum, its roadmap, coupled with the exciting projects it's fostering, hints at a compelling future in the Layer 2 domain. As always, the crypto space remains unpredictable, but with these insights, one can navigate with a bit more clarity.

Optimism's Remarkable Market Movement and Its Impact on Crypto



Optimism, the Layer 2 scaling solution for Ethereum, has seen a significant surge in its market cap recently, with an increase of $300 million in just a week. This robust movement can be attributed to several factors, chief among them being the migration of @worldcoin to the $OP mainnet.

In this article, we're diving deep into Optimism’s current landscape, its key projects, and where the 'smart money' is headed.


1. Optimism's On-Chain Metrics: A Mixed Bag


  • Total Value Locked (TVL): Optimism boasts a TVL of $901 million, which peaked at $1.14 billion.

  • Volumes: Over the past seven days, the network recorded $400 million, in stark contrast to Arbitrum's whopping $2.3 billion.

  • Active Users: With 146k users, it's slightly behind Arbitrum’s 173k.


Although these figures show Optimism trailing behind Arbitrum, the platform's ambitious roadmap points towards a promising future.


2. Key Projects Powering Optimism


a. Velodrome


The first ve(3,3) dex to scale successfully, Velodrome stands out as Optimism's liquidity hub. The recent launch of Velodrome v2 brought significant upgrades, notably in the fee structure, establishing it as the most lucrative Dex in the crypto realm today.


b. Synthetix


It's a unique protocol that facilitates the creation of synthetic assets using the $SNX token as collateral. With Synthetix v3 on the cards, the key feature to watch out for is multi-collateral synthetic mints.


c. Kwenta


Built atop Synthetix, Kwenta is a perpetual Dex that offers a vast array of synthetic assets. Its position, right after DYDX and GMX in cumulative volume, speaks volumes about its accomplishment.


3. The OP Superchain Ecosystem: The Future is Modular


Last year, Optimism rolled out the OP stack, essentially offering free code libraries for developers to craft their Layer 2 solutions. This move towards modularity is intended to aggregate these chains into one SUPERCHAIN. The strategy involves a shared sequencer to ensure maximum compatibility between chains without compromising on security.


A few significant names currently using the OP stack are:


  • @BuildOnBase (soon on Mainnet)

  • @BNBCHAIN (Testnet is live)

  • @ourZORA (Mainnet launched)

  • @pgn_eth (Live on Testnet)

  • @worldcoin (Mainnet is now live)

  • @cLabs (Launched on Mainnet)


With Coinbase and Binance in the fray, the crypto community is eagerly watching the developments.


4. Tracking Smart Money: Whale Movements


A specific whale seems to be betting big on $OP with a current position of $157k, marking a 13% gain. This investor's other significant holdings include:


  • $OX valued at $112k

  • $CNC worth $96k

  • $VEGA standing at $73k


For those keen on tracking this investor, here's the link to the wallet.


All the analysis is derived from @loch_chain, an analytical tool under development.


In conclusion, while Optimism might be witnessing a mixed bag in terms of metrics compared to Arbitrum, its roadmap, coupled with the exciting projects it's fostering, hints at a compelling future in the Layer 2 domain. As always, the crypto space remains unpredictable, but with these insights, one can navigate with a bit more clarity.

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Loch, Inc. © 2023

The content made available on this web page and our mobile applications ("Platform") is for informational purposes only. You should not construe any such information or other material as financial advice in any way. All information provided on the Platform is provided on an as is and available basis, based on the data provided by the end user on the Platform. Nothing contained on our Platform constitutes a solicitation, recommendation, endorsement, or offer by us or any third-party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction. All content on this Platform is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in the Platform constitutes financial advice, nor does any information on the Platform constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content on the platform before making any decisions based on such information. In exchange for using the Platform, you agree not to hold us, our affiliates, or any third-party service provider liable for any possible claim for damages arising from any decision you make based on information or other content made available to you through the Platform.

2261 Market Street,

San Francisco, CA 94114

Loch, Inc. © 2023

The content made available on this web page and our mobile applications ("Platform") is for informational purposes only. You should not construe any such information or other material as financial advice in any way. All information provided on the Platform is provided on an as is and available basis, based on the data provided by the end user on the Platform. Nothing contained on our Platform constitutes a solicitation, recommendation, endorsement, or offer by us or any third-party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction. All content on this Platform is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in the Platform constitutes financial advice, nor does any information on the Platform constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other content on the platform before making any decisions based on such information. In exchange for using the Platform, you agree not to hold us, our affiliates, or any third-party service provider liable for any possible claim for damages arising from any decision you make based on information or other content made available to you through the Platform.

2261 Market Street,

San Francisco, CA 94114