Ethereum (ETH) onboarding Optimism shows a steady increasing pattern. Based on Monthly volume, there are more ETH flowing onto Optimism than withdrawn from Optimism It peaked on August with 117.9 K ETH Inflow. The Nett Cumulative Flow onto Optimism also shows a healthy figure with 234K Nett ETH. This is a healthy indication of capital flow as ETH is The Currency of Ethereum that is used in various on-chain activity from paying gas, purchasing NFTs or making collateralized borrwings.

USDC also shows the same increasing pattern as ETH, peaking on Aug with 272 M USDC inflow. The nett Flow of USDC also yields a staggering half a billion! This is a positive sign because USDC is The Stablecoin of cryptoverse . However, it is important to note that on October, there are more USDC being withdrawn from Optimism onto Ethereum, netting at 10 M USDC outflow

USDC’s rival, USDT, has also shown strong adoption pattern. A huge Inflow was reported on Nov 2021. Since then, it has shown increasing inflow over time, peaking at Aug 2021. The Nett flow of USDT reports 97 M USDT . About 1/5th that of USDC’s Nett flow.

The third stablecoin that is studied is LUSD. LUSD shows a massive onboarding volume on Dec 2021. However, the very next month, it began to show a significant outflow from then on. Also to note that, LUSD does not peaked at August 2022, like the rest of the stablecoin counterparts. Since June 2021, the Nett Inflow has been reporting negative value , and has been increasing over time.

Which Asset is Dominating the Total Valuation on Optimism ?

What is the relation between Nett Flow and Total Transaction Activity Per Month?

Based on USD Valuation, USDC accounts for half of TVL (among these 4 assets). It even beat ETH, which the core currency that is used in various on-chain activity . USDT accounts only about 10% of the total valuation. Perhaps this is indication that users are storing their asset in USDC, than ETH to avoid market volatility.

The total monthly transactions activity on Optimism are showing increasing trend, and the dip in nett asset flow after August does not seem to show significant impact on its momentum. ( Toggle click on the legends to identify individual asset trend)

How much on-chain Activity is growing with Nett Asset Flow over time?

With the Nett Flow on the Y axis, and month over the x-axis, the trend shows that on chain activity has shown significant increase over time.

The size of the Markers indicates the number of unique address participating in particular on-chain activity.

On June 2022, Optimism sees the largest volume of new delegators participation. On that same month, they are also receiving the largest DEX activity for the first time.

Buyers participation on secondary NFT aftermarket sales are delayed, but are consistently growing towards the end of this year.

Overall this shows a healthy pattern of a growing ecosystem.

(Toggle the legends to see individual Activity Pattern)

Introduction

This analytics focuses on the Nett flow of assets via the Optimism bridge. It is important to note that this not the only means to onboard asset on Optimism or off Optimism. Other means includes using cross chain DEX aggregators like Rango Exchange , or other bridges that has other functions such as Stargate`s Layer 0 .

What is Optimsim?

Optimism is a Layer 2 blockchain; a chain that is built on top of the main chain (Ethereum) to solve scaling issues such as transaction speed and gas cost.

What is Nett Flow?

Nett flow is the difference between asset onboarding (Inflow) and offboarding (Outflow) on to a DEX, Dapps or even a whole network like Optimism. By measuring the nett flow of major crypto assets such as ETH, USDC , and USDT, we can see whether the community or the market are committed to spend their asset on Optimism. Nett Positive means more assets onboarding Optimism, Nett negative indicates more asset are being withdrawn from an ecosystem.