zk Rollup is in danger! Optimistic series dominates the data comprehensively!

Coin98 Analytics recently published the July Layer 2 Report, suggesting a fundamental analysis approach to choosing Layer 2 solutions amidst the volatile market conditions. The report analyzes various Layer 2 solutions from the perspectives of address count, transaction volume, capital flow, total locked value, and NFT.

By the number of addresses, Opmistic roll up still takes the lead

When it comes to individual addresses, Optimism maintains its leading position with 155.8 million individual addresses. The second place is held by the Base chain developed by Optimism Stacks, with 97.5 million individual addresses. In third place is Arbitrum, with 35.7 million individual addresses. Looking at the total number of addresses alone does not reveal the trend of Layer 2, but we can see the trend of growth in individual addresses over the past month. Base and Mantle were the top two chains in terms of new addresses in July, both showing a 14% increase in individual addresses for the month. Following closely behind are Linea and Scroll, which have not yet launched their tokens, with an expected 9% increase in individual addresses for the month. The previously recognized Layer 2 leaders, Arbitrum and Optimism, showed growth of 7% and 4% respectively in terms of individual addresses for the month. Surprisingly, the Blast ecosystem, which saw a sharp decline after its token launch, saw an 8% increase in July, climbing from 1.179 billion to 2.3 billion TVL before the token launch. On the other hand, zk-based Layer 2 solutions Starknet and zkSync had lackluster growth rates of 1% and 3%, respectively, with hopes for a revival of the Starknet ecosystem following a change in leadership.

(Shutting down a month after launch? Starknet's derivative platform ZKX token plummets over 96%)

opBNB sees significant growth in trading volume, surpassing 200 million transactions in July

In terms of trading volume, opBNB, Base, Arbitrum, and Linea have consistently high daily trading volumes. The daily average trading volumes are: opBNB: 6.7 million, Base: 3.6 million, Arbitrum: 1.9 million, Linea: 1 million. Base and Blast saw trading volume growth of over 27%, with Linea growing by 20%, Scroll by 19%, and opBNB by 18%. In July, opBNB's trading volume exceeded 209 million transactions.

This volume would account for nearly half of the entire quarter's trading volume in the second quarter at 429 million transactions.

Analysis of Layer 2 TVL: Dominated by lending protocols, Dex, and derivatives

As of July 2024, the top four Layer 2 chains in terms of TVL are Arbitrum with 3.18 billion, Base with 1.71 billion, Blast with 1.18 billion, and Scroll with 748 million. Scroll and Mantle have shown the most growth among Layer 2 chains, with monthly growth rates ranging from 81% to 55%. Blast and zkSync, which are newly launched, are the only chains showing negative growth in the chart.

In terms of net inflows, zkSync saw an inflow of 65 million, while Optimism saw an outflow of 234 million.

Coin98 analysis shows that TVL on chains like Arbitrum, Optimism, Base, and Blast is dominated by lending protocols, Dex, and derivatives.

As for NFTs, the daily increase in NFTs on the Base chain is 446K, while on Linea, it is 400K, likely related to Linea's airdrop tasks.