Optimistic Bears
In this bounty we were asked to analyze Optimism during the month of July as markets were get turbulent, and show whatever metrics we care to unearth.
I showed:
daily number of active wallets,
daily number of transactions,
average number of transaction for each wallet,
daily success and fail rate,
daily bridged assets,
daily top swap pairs,
top 10 swap from and swap to assets during July.
In the first chart I showed the price of OP during July.
As you can see, the price of OP was stable to somehow until July 13th, but after that date it started a sharp growth and reached to 1.75 in the last days of July which was a +258% growth in 14 days.
Although the price of OP increased from July 13th, but number of distinct wallets was still stable to some extent until July 25th, but after that date, daily number of active wallets increased sharply and grew from 8.8 K on July 25th to 63.28 on July 27th(about 8X growth in only 2 days). Number of active wallets decreased after that date and reached to 20 K in last day of July.
Daily number of transactions increased by the growth in the price of OP from July 13th and grew from 58 K on July 12th to 271 K on July 29th (about 4.6X growth in 17 days).
Until July 18th, average number of transactions for each wallet was less than 11, but it reached to 15.5 transaction per wallet only in two days. This number was in its lowest level on July 27th(the day with highest number of wallets on Optimism)
Until July 10th, the success rate of transactions on Optimism was stable to some extent, but after that date and specifically after starting the growth trend in the price of OP, the success rate of transactions on Optimisim had a negative trend in total and number of succeeded transactions were in its lowest level on July 30th(the days with highest price for OP in July).
The fail rate chart has exactly the opposite trend in comparison with success rate chart and it reached to its highest level on July 30th.
In the above chart you can see the top 10 erc20 bridged assets to Optimism based on volume. USDC was the main erc20 asset that was bridged to Optimism.
In the below chart I did some analysis about swap transactions on Optimism during July.
Swapping OP to USDC and vice versa were the two most popular swap pairs on Optimism during July, based on number of swaps.
The daily number of swaps increased from July 14th and reached to its highest count on July 29th.
Swaping USDC to WETH was the most popular swaps from July 1st to 13th in most of the days, but after that date, most of swaps were swapping OP to USDC and vice versa.
In below charts you can see the top 10 swap from and swap to assets in July:
USDC, OP and WETH were the top 3 swap from assets in July, while USDC, OP and WETHwere the top 3 swap to assets.
USDC was swapped to another asset more than 320 K times, while another asset was swapped to USDC, 271 K times.
OP was swapped to another asset more than 174 K times, while another asset was swapped to OP, 140 K times.
WETH was swapped to another asset more than 131.8 K times, while another asset was swapped to WETH, 140.2 K times.
In conclusion we can say that although the market turbulance in July, but OP had a positive growth in this month and Optimism chain was very healthy and active during this month.