INTRODUCTION

Optimism is a fast, stable, and scalable L2 blockchain built by Ethereum developers, for Ethereum developers. Built as a minimal extension to existing Ethereum software, Optimism's EVM-equivalent architecture scales your Ethereum apps without surprises.

Note: We will use the swaps on the top 3 DEXs: Uniswap, Sushiswap and Velodrome.

DATA were taken from Flipside’s tables regarding the above 3 DEXs.

In this dashboard we will analyze Swaps activity vs OP price dating back 3 months and we’ll try to find a correlation between them.

Specifically we will see the total $ volume of swaps of all coins and the swaps where OP was swapped and compare them to see which one is a better indicator.

We’ll also see the number of swaps vs OP price again on both cases.

First we see the total daily Swap volume on the 3 DEXs.

• Velodrome is the biggest one by far with Uniswap in the second place with less but with comparable volume and Sushiswap at the end with negligible volume.
• We also see a spike of volume in the last 10 days of July and a steady decline from September and afterwards.

From the above charts we see that OP token swaps represent a big stake of the Swap Volume on Optimism so the charts are almost identical.

We see a strong correlation between OP price and Swaps in the last 3 months where the variations in swap volume happen right before price change.

Here we see that the number of swaps of OP tokens are approximately half of the total swaps.

Again there is a strong correlation between number of swaps and OP price.

1. SWAP VOLUME.

2. NUMBER OF SWAPS.

CONCLUSION

• Swap volume has a strong correlation with OP price.
• Number of Swaps has also a strong correlation with OP price.
• Swap volume is trending down in the last few months.