Optimism and Base Gain Traction in DeFi Market
DeFi markets are witnessing significant changes. Optimism (OP) has seen a surge in cross-chain transfers, while Base leads in DEX transactions.
On April 8, Optimism recorded $410 million in value transfers, nearly 40% of all major chain movements. This growth is due to its interoperability, allowing easy liquidity movement between Ethereum layer-2 networks.
Optimism’s success is linked to its open-sourced OP Stack. This technology enables seamless integration with other networks like Base,Mantle,Worldcoin,and Celo.
Base, integrated with Optimism, now leads in DEX transactions and fees.It accounts for 60% of all DeFi transactions. Arbitrum follows with 25%, while Ethereum’s share has dropped to 7%.
DEXs are shifting away from Ethereum due to high gas fees. This shift impacts profitability. On april 7, base earned 211 ETH in fees, with Arbitrum earning 170 ETH.
Although Ethereum no longer dominates DEX transactions, it still leads in trading volume. It controls 60% of the $3 billion daily DEX volume. Base holds 20%,and Arbitrum has 15%.
These changes highlight the evolving landscape of DeFi, with Optimism and Base gaining prominence.
