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Optimism (OP) L2 Market Share Eyes 20% as ETH Price Spikes Ahead of The Merge

Optimism (OP), a top-tier second-layer scalability solution for Ethereum (ETH) is among leaders of 7-day change, L2Beat says.
Optimism (OP), a high-performance scalability solution for Ethereum (ETH) blockchain, increases its dominance in the L2s sphere.

Optimism (OP) nodes on fire in mud-July

According to the statistics shared by L2Beat blockchain’s tracker, Optimism (OP) nodes are leading the market recovery of L2s ecosystem. Its aggregated total value locked (TVL) among all supported protocols spiked by 6.9 per cent in the last 7 days.

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As such, Optimism (OP) is the second fastest growing solution in Top-10, surpassed by Arbitrum only. Optimism (OP) nodes ecosystem is responsible for $761 mln in total value locked or about 19.07 per cent of net TVL across all L2 protocols.

Largely, this upsurge should be attributed to the increase of Ethereum (ETH) price. In the last five days, Ethereum (ETH), the second cryptocurrency, spiked by more than 44 per cent.

As such, Optimism (OP) is the second fastest growing solution in Top-10, surpassed by Arbitrum only. Optimism (OP) nodes ecosystem is responsible for $761 mln in total value locked or about 19.07 per cent of net TVL across all L2 protocols.

Largely, this upsurge should be attributed to the increase of Ethereum (ETH) price. In the last five days, Ethereum (ETH), the second cryptocurrency, spiked by more than 44 per cent.

Ethereum (ETH) merge date announced

In turn, Ethereum (ETH) price upsurge is catalyzed by the decision of its core developers to finally set the tentative date for much-anticipated upgrade The Merge. This upgrade is set to signal for the migration from Proof-of-Work to Proof-of-Stake consensus as the basic technical consensus for its nodes.

Ethereum’s core developer and ACD meetings coordinator Tim Beiko announced that Ethereum Merge is expected to be activated on September 19, 2022. This is the most crucial milestone on the road towards Proof-of-Stake Ethereum (ETH) since the launch of ETH2 deposit contract in Q4, 2020.

Also, some analysts claim that The Merge date might be an end for β€˜Crypto Winter’ of 2021-2022.

GetBlock’s Optimism (OP) dedicated nodes meet market recovery locked and loaded

Bullish or bearish, GetBlock is always ready to support developers with reliable and cost-efficient node APIs. Optimism (OP) dedicated nodes are the latest addition to GetBlock’s nodes stack; they are designed to highly scalable mainstream dApps.

Optimism (OP) shared nodes are reasonable solution for early-stage dApps that are getting ready for the migration from Ethereum (ETH) blockchain.

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