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Optimism has been on investor radar over the past sessions. Meanwhile, the latest updates reveal that the decentralized exchange saw a massive increase in trading activity in the previous thirty days, with the metric surging 1,800% to over $12 billion.
Moreover, the DEX ,retained this trend in the past week, even outshining the top platform by total value locked, Ethereum. Nonetheless, the recent KyberSwap attack catalyzed the notable increase in Optimism’s trading activity.
DeFiLlama data highlighted the significant increase in Optimism’s trading volume. The figure climbed to $344.98M within the last day. Moreover, the massive 1,687% surge in the 7-day chart saw the DEX’s trading volume hitting $1.849 billion, exceeding Ether’s 9.044 billion.
Also, Optimism recorded an enormous increase in TVL. The platform’s total value locked surged over 24% and 4.45% in the last month and week, respectively, to $769 million. However, the figure declined by a slight 1.76% in the past 24 hours.
Ethereum trading activity decline
Meanwhile, the leading blockchain platform by total value locked, Ether, saw a decline in trading activity to current levels of $71.17 million. Further, the metric dipped 8% in the previous week to $9.17 billion, below OP’s nearly $12 billion.
Kyberswap vulnerability bolsters Optimism trading activity
Meanwhile, the latest KyberSwap vulnerability, which saw it losing assets worth around $47 million, propelled Optimism’s trading volume. KyberSwap attackers completed $11 billion in transactions.
While the latest updates confirm impressive growth for DEX Optimism, the effect of the KyberSwap attack remains a challenge, emphasizing how crucial security is for the thriving decentralized finance (DeFi) and crypto markets.
The post Optimism outshines Ethereum in weekly trading volume, but there’s a catch appeared first on Invezz
