Home News Arbitrum extends lead over Optimism as Uniswap posts record volume on L2

Arbitrum extends lead over Optimism as Uniswap posts record volume on L2

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As Uniswap’s layer-two volume climbs into record highs, DeFi customers appear to be preferring Arbitrum over Optimism for scalability.

In fact, layer two volumes are increasing at Uniswap, the world’s most popular decentralised exchange, while Ethereum transaction costs continue to rise.

Hayden Adams, the founder of Uniswap, tweeted on Oct. 19 that daily volume across the decentralised exchange’s v3 installations across layer-two networks had reached new highs. Moreover, without citing a source, Adams stated that Uniswap v3 handled $115M in daily trade over the Arbitrum and Optimism networks.

Uniswap v3 produced $80M in volume on Arbitrum and about $14M on Optimism over the previous 24 hours, according to statistics provided from analytics company Nomics at the time of writing (3 a.m. UTC).

However, when compared to its mainnet deployment, Uniswap v3’s total layer-two volumes are still insignificant, according to CoinGecko.

Arbitrum looks to be the DeFi community’s preferred

Ethereum Foundation’s and Andressen Horowitz’s support Optimistic Ethereum. Nevertheless, Arbitrum looks to be the DeFi community’s preferred second-layer rollups option.

Since its mainnet debut in early September, Aribtrum has accounted for 60% of the total value locked (TVL) across all layer-two networks, according to layer-two data aggregator L2beat. Arbitrum’s TVL presently stands at $2.29 billion, up 14% in the last week.

With $838 million, or 22% of the sector’s value locked up, decentralised derivatives exchange dYdX is second after Arbitrum. Optimism, on the other hand, has just recently garnered $269M in locked capital. Putting it in third place with a 7% share of second-layer TVL.

On Oct. 17, the total TVL of layer-two networks surpassed $3.8 billion for the first time.

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