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Optimism (OP) Transaction Volume Spikes Amid Worldcoin Migration to Mainnet

2 mins
Updated by Ryan Boltman
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In Brief

  • Ethereum layer2 network, Optimism, has seen its transaction volume trending upwards during the past month amid new developments on the network.
  • Earlier in the week, Worldcoin revealed that it was migrating its World ID and World App to the OP Mainnet.
  • Like the broader crypto market, OP's price has enjoyed some upside during the past month, rising by more than 10%.
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Optimism is seeing an uptick in transaction volume after Worldcoin revealed plans to migrate to its mainnet. According to Etherscan data, the daily transaction count on Optimism Mainnet surpassed 600,000 twice in July.

Data from L2Beat also shows that the layer2 network processed 15.95 million transactions in the last 30 days, averaging 6.12 transactions per second daily.

Optimism Transaction Data
Optimism Transaction Count (Source: L2Beat)

Worldcoin Migrates to OP Mainnet

Optimism’s transaction volume increase coincided with its recent adoption by Worldcoin. Earlier this week, the Sam Altman-backed crypto project announced the transition of World ID and World App to the OP Mainnet.

Following the migration of the underlying technology, user migration has now started. The transition means the Worldcoin protocol is now on Ethereum with bridges for Optimism and Polygon POS. Most of its Safe wallets have been deployed to Optimism, and the World App now supports Uniswap on the OP mainnet.

According to the Worldcoin Foundation, “bringing World ID to the OP Mainnet has the potential to strengthen the capabilities of Optimism’s Citizens’ House.”

Worldcoin stated that the migration was part of efforts to bring the Superchain to life. Optimism Superchain is a network of L2 chains, known as OP Chains, which share security, a communication layer, and an open-source technology stack.

Other Developments Within Optimism’s Ecosystem

Meanwhile, Optimism is also set to have several developments within its ecosystem. Two proposals by O(1) Labs and RISC Zero to implement zero-knowledge proof systems for the OP chains have been approved.

This move means that the network will soon have its own ZKP layers similar to developments on Polygon and ZKSync.

The network is also scaling its governance to achieve the goals of capturing resistance and resource allocation. This will see the introduction of The Token House and Citizens’ House and new mechanisms to manage its revenue.

POMP app also launched on Optimism during the week. Users can now verify proof of ETH, USDT, USDC, DAI, and OP assets on OP Mainnet without revealing their wallet information. 

The positive developments within the Optimism ecosystem have caused OP’s price to rise. The token is up 25% in the past 14 days and rose by 2.08% in the last 24 hours to $1.55 at the time of writing, according to BeInCrypto data.

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In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

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Oluwapelumi Adejumo
Oluwapelumi Adejumo is a journalist at BeInCrypto, where he reports on a broad range of topics including Bitcoin, crypto exchange-traded funds (ETFs), market trends, regulatory shifts, technological advancements in digital assets, decentralized finance (DeFi), blockchain scalability, and the tokenomics of emerging altcoins. With over three years of experience in the industry, his works have been featured in major crypto media outlets such as CryptoSlate, Coinspeaker, FXEmpire, and Bitcoin...
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