Overview

Optimism is a layer 2 scaling solution chain for Ethereum. It functions on top of the Ethereum mainnet (layer 1), while transactions take place on Optimism. It increases the speed of transactions and decreases the fees of transactions using Ethereum.

Optimism has its own native token OP.

This dashboard investigates how OP price relates to OP trades.

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Descriptives

Graphs below show how OP price, the number of swaps, the number of unique swappers and the amount of swaps changed over time.

We can see that in July the number of swaps and OP price picked and since then has gradually decreased hand in hand. We can see the same trend for amount of swaps as well. However, the number of unique swappers is growing.

Correlations

Scatter plots below demonstrate positive correlation between OP price and number of swaps as well as swappers and the amount of swaps.

We can conclude that there is a relationship between OP price and OP trading. However, the question is which one causes the other.

Causal Effect

To better understand which comes first I zoom in on one of the periods that the price spiked.

Graphs below show that the swapper activities whether buying or selling OP came first then the price started growing. We can see two sparks in activities at 16.00 and 18.00 on July 27th.