– Data from DeFi total value locked (TVL) aggregator DefiLlama shows that the Optimism chain recorded positive inflows in 27 out of the last 30 days.
– This resulted in a $119 million increase in Optimism’s TVL, representing about 18.3% of the chain’s entire stablecoin market capitalization.
– USD Coin (USDC) made up 47.2% of Optimism’s stablecoin market cap and Optimism’s TVL has recorded an overall increase of 7.56% in the last seven days and 38.17% in the previous month.
Data from the decentralized finance (DeFi) total value locked (TVL) aggregator DefiLlama shows that the Optimism chain recorded positive inflows in 27 out of the last 30 days. This inflow resulted in a $119 million increase in Optimism’s TVL, representing about 18.3% of the chain’s entire stablecoin market capitalization. The only days in the last month when Optimism did not have a positive inflow were Jan. 1, Jan. 3, and Jan. 17, with the chain losing about $7.43 million from its stablecoin valuation.
At the beginning of the year, Optimism’s stablecoin market cap stood at $539.19 million. But by Jan. 31, following the sustained positive inflow, the chain’s stablecoin holding was valued at $651.01 million, representing more than 77% of its total value locked. DefiLlama’s data also showed that 47.2% of Optimism’s stablecoin market cap was made up of USD Coin (USDC), which has proven to be the most dominant stablecoin across other chains as well.
Stablecoins play a critical role in the growth and success of the DeFi industry as they provide users with a reliable and stable store of value. This is particularly important when dealing with DeFi products such as yield farming and liquidity mining, as these activities often involve locking up funds for extended periods of time and require users to maintain a stablecoin store of value.
In addition to the positive stablecoin inflows, Optimism’s total value locked (TVL) has also recorded an overall increase of 7.56% in the last seven days and 38.17% in the previous month, according to another crypto data aggregator, CoinMarketCap. This shows that Optimism is continuing to experience steady growth as more and more users flock to the platform to take advantage of its various DeFi products.
Overall, Optimism’s sustained positive inflows and increasing TVL is a positive sign for the DeFi industry as a whole. As more users continue to flock to platforms such as Optimism and take advantage of the various DeFi products available, the industry is likely to experience further growth and success.