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.
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.
- 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:
Something might be brewing with Optimism.
Especially taking into account a strong increase of stablecoin onchain activity on Optimism blockchain: