INTRODUCTION

Optimism is a layer 2 network on top of Ethereum which offers higher speed and lower fees on transactions.

Here we will analyze the amount of ETH and USDC that have been bridged from Ethereum to Optimism and backwards. We chose USDC as the stablecoin because is has the highest valuation an is the second largest asset on both chains after ETH.

Data Sources: ==ethereum.core.ez_eth_transfers==

                   ==ethereum.core.ez_token_transfers==

Below we will present all the metrics side by side on for ETH-OP bridge and one for the backward.

Optimism → Ethereum

Ethereum → Optimism

We see the total USD amount of ETH bridged from Eth to OP is $503M and the reverse is $182M this year.

And the USDC volume is $0.73B for Eth to OP and $349M for the reverse this year again.

Below we see $ volume, users and transactions for every week in 2022.

USDC has higher $ volume than ETH on both sides and on the summer there is an increase in volume in both charts but a higher increase on the OP → Eth side.

There are x1000 more users using the Eth→OP bridge than the other side. In the last week there are fewer active users on both sides.

There is also a decline in transfers on the summer on Eth→OP bridge but there is an increase on the same time on the transfers on the OP→Eth bridge probably due to the Merge people are bringing back their assets to the mainet.

CONCLUSION

• There is an evident conclusion that most people that bridge to Optimism and transfer their funds there they don’t bring their $ money back on the mainet because volume is way higher on Eth→OP than OP→Eth bridge.
• There are a lot less users transferring USDC on Eth→OP but its volume is way higher meaning that the fewer and richer wallets transfer more USDC than ETH on Optimism and most of the regular users transfer smaller amounts of ETH coins.