Optimism, one of new blockchains with increasing TVL and onchain activity, has shown quite some weird action recently, namely extremely high transaction volume of stablecoins on it:

Average USDT or USDC transaction volume on Optimism is less then $10M. The anomaly above skyrocketed both to above $1B.

Liquidity mining? Washtrading?

We can check token velocity:

Velocity was super high around that days.

Active addresses?

No anomalies in active addresses, only a healthy trend.

Additionally, we can see a similar anomaly on OP token itself:

It also coincided with a top of OP price against BTC and maximal bullishness in crowd.

There is probably some connection, we just don't know which one. Do you?

Keep an eye on Optimism, there a lot of things going on.

Bonus details:

• This address was executing huge amount of transfers: https://optimistic.etherscan.io/address/0xb1f190bf99fea986e2d4d99abb5be1a649d5247d
• An example of transaction: https://optimistic.etherscan.io/tx/0x7655c475d270e12aaf4aec9f4df027693d011ab2807a0925e2ddea2f1c62d52a
• Charts used: https://app.santiment.net/s/2ItCEZTF

Optimism onchain activity seems to continue building a stronger and stronger divergence with price. Active addresses:

Network growth:

Something might be brewing with Optimism.

Especially taking into account a strong increase of stablecoin onchain activity on Optimism blockchain:

Charts: https://app.santiment.net/s/5wIanjhG