Optimism’s weekly trading volume soars 1687%, TVL hits $769m
Ethereum-based layer-2 Optimistic Rollup network Optimism (OP) has recorded a 1,687% surge in weekly trading volumes. The latest data from defi analytics platform DeFiLlama indicates a dramatic upswing in trading activity on Optimism, a layer 2 scaling solution anchored on Ethereum (ETH), propelling the network to a trading volume of approximately $300 million. An update from crypto reporter Colin Wu suggests that the surge in Optimism’s volume is primarily due to the recent security flaw on KyberSwap, which led to a loss of $46.5 million. The breach resulted in the loss of 10,049 wETH, 4,017 wstETH, and 3.98 million Arbitrum (ARB) tokens. According to DeFiLlama, in the past week, Optimism DEX’s weekly trading volume increased by 1,800% MOM to more than $12 billion, significantly setting a record high, surpassing Ethereum. However, this increase was due to a vulnerability attack on KyberSwap, which was transaction… — Wu Blockchain (@WuBlockchain) November 26, 202...