Arbitrum extends lead over Optimism as Uniswap posts document quantity on L2
The world’s hottest decentralized exchange, Uniswap, is seeing layer two volumes surge as Ethereum transaction charges surge as soon as once more.
On Oct. 19, Uniswap founder Hayden Adams tweeted that every day quantity throughout v3 deployments of the decentralized exchange on layer-two networks has pushed into document ranges. Adams estimated that Uniswap v3 processed an unprecedented $115 million in mixed every day quantity throughout the Arbitrum and Optimism networks with out offering a supply.
Uniswap v3 on layer 2 (arb + OE) doing an all time-time excessive of $115m quantity!!
2⃣ L2 season is right here 🙂
— hayden.eth (@haydenzadams) October 18, 2021
While Adams’ submit was revealed amid peak U.S. buying and selling hours, information sourced from analytics supplier Nomics on the time of writing (3 am UTC) means that Uniswap v3 drove $80 million in quantity on Arbitrum and roughly $14 million on Optimism over the previous 24 hours respectively.
However, Uniswap v3’s mixed layer-two volumes are nonetheless tiny in comparison with its mainnet deployment — which presently represents $1.3 billion in every day exercise in accordance with CoinGecko.
Related: Ethereum layer-twos reportedly processing extra transactions than Bitcoin
Despite the Ethereum Foundation and crypto enterprise large Andressen Horowitz backing Optimistic Ethereum, Arbitrum seems to have emerged because the DeFi group’s second-layer rollups resolution of alternative.
According to layer-two information aggregator L2beat, Aribtrum represents 60% of the entire worth locked (TVL) throughout layer-two networks mixed since its mainnet launch in early September. Arbitrum’s TVL presently sits at $2.29 billion after rising by 14% over the previous week.
Decentralized derivatives exchange dYdX ranks second behind Arbitrum with $838 million or 22% of worth locked within the sector. Comparatively, Optimism has simply attracted simply $269 million in locked capital, rating because the third-largest layer-two with a 7% share of second-layer TVL.
The mixed TVL of layer-two networks tagged a record-high $3.8 billion on Oct. 17.