Daily On-Chain Activities On Arbitrum, optimism rose to a 7-month high by CoinEdition


On-chain daily activities On Arbitrum, optimism reached a 7-month high
  • Fantom, Arbitrum, and Optimism generated more daily active titles in one week than seven months ago.
  • The on-chain activities of the three lag far behind those of BNB chain.
  • On-chain activities include using dApps, creating new wallets, DAO voting, and exchanges.

Smart contract development activities on some blockchain networks have increased recently compared to what could have been obtained seven months ago. According to data from a crypto market tracker, Nansen and blockchains for Fantom, Arbitrum, and Optimism now have more active addresses per day than they did in a week seven months ago.

The infographic shared by Nansen showed that the three aforementioned blockchains are now among the top ten in terms of volume of on-chain activity.

Notably, on-chain activities may include using decentralized applications (dApps), performing swaps, creating new wallets, DAO voting, sending and receiving assets, and more. The combined on-chain activity of Fantom, Arbitrum, and Optimism as of November 23, 2022 is significantly lower than that of BNB Chain, which saw 1.2 million daily active addresses.

Most importantly, Optimism and Arbitrum are two of the largest Layer 2 (L2) solutions that use optimized clustering technology to scale the network.

According to other data from Nansen, gas fees incurred through daily transactions on the Ethereum network have ranged between $2 million and $3 million since late July of 2022. In contrast, approximately $57 million went to gas fees per day in the previous year. .

DeFi search engine TheFiVerse hinted that the big consumers of ETH gas fees are Chinese-related NFT projects. According to them, swaps from NFTs and a decentralized exchange account for most of the validators’ ETH returns.

In related news, Ethereum is trading at $1,196 with a barely 3% increase in the past 24 hours and an almost zero cumulative gain over the previous 7 days.

On-chain daily activities appeared after Arbitrum, optimism reached a 7-month high for the first time in a Coin release.

See the original on CoinEdition


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