Distinct Wallets (Optimism Bridge)

    Q1. How many distinct wallets have deposited or withdrawn ETH to Optimism via the native bridge in the last 60 days? Visualize your findings.

    Introduction

    One of the most efficient ways to make the most of crypto assets is to connect them to a Layer 2 (L2) network, and one of the best bridges is the Optimism Bridge. Doing so provides lower transaction fees, higher throughput, and a better user experience.

    In this analysis, we want to discuss the data related to the native bridge of Optimism. The mechanism of Native Bridge with other bridges is different, Native Bridge works this way

    • Deposit: Lock ETH on L1 -> Mint ETH on L2

    • Withdraw: Burn ETH on L2 -> Release ETH on L1

    In fact, a proxy or relayer does this, but in other bridges, they do it with pools, that is, they take your Layer 1 Ether and send you the same amount of Ether from the Layer 2 pool.

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    Methodology

    First, we obtain smart contracts related to the Optimism Bridge using the Etherscan.io. Then, using them and Table ethereum.core.ez_eth_transfers to calculate the number of unique wallets and the amount of transferred Ethereum.

    We discuss the following charts:

    • Number of Unique Wallets and Volume of ETH (Withdraw)
    • Number of Unique Wallets and Volume of ETH (Deposit)
    • Deposited and Withdrawn

    It should be noted that the data is related to the last 60 days.

    Analysis

    The number of unique wallets deposited or withdrawn ETH to the Optimism Bridge can be seen in the figure below.

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    The number of wallets that have been deposited ETH(71.9K) into the Optimism Bridge is much higher than the number of wallets that have been withdrawn(483). About 72,000 wallets have used the bridge over the past 60 days.

    The chart below compares the volume of ETH deposited into the Optimism Bridge with the unique wallet trend.

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    The most significant volume of ETH (14.66K) was deposited on June 1 by 23.39K unique wallets in the last 60 days.

    The most significant volume of ETH (6518) was withdrawn on June 8 by 48 unique wallets in the last 60 days.

    Finally, a chart comparing the volume of ETH deposited and withdrawn from the Optimism Bridge is shown.

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    The most significant ETH deposition in the last 60 days occurred on May 23, 31, and June 1, and the most considerable amount of ETH withdrawn from the Optimism Bridge occurred on May 31 and June 8.

    In general, it can be said that many users have deposited a large volume of ETH to the Bridge of Optimism.