Arbitrum beats Optimism based on Uniswap volume recorded in L2.

DeFi users seem to choose Arbitrum over Optimism for scaling as Uniswap’s Layer 2 volumes hit record highs.

Uniswap Layer 2 Volume Soar As Ethereum Fees Rise Again On October 19, Uniswap founder Hayden Adams tweeted that daily volume of exchanges on the Layer 2 network has soared to a record level.

Adams estimates that Uniswap v3 processes total daily volumes of $115 million, which is unprecedented in the Abitrium and optimism networks.

While Adams’ post was published during peak US trading hours, Data from Nomics analysts pointed out that Uniswap v3 has increased trading volumes for Arbitrum by $80 million and approximately $14 million for Optimism over the past 24 hours.

However, Uniswap v3’s Layer2 volume is still small compared to its mainstream usage. It currently represents $1.3 billion in daily activities, according to CoinGecko.

Although the Ethereum Foundation and crypto giant Andressen Horowitz support Optimistic Ethereum, Arbitrum appears to be a good alternative to the DeFi community’s Layer2 rollups solution.

According to Layer2 aggregator L2beat, Arbitrum has accounted for 60% of Total Value Locked (TVL) across all Layer 2 networks since its mainnet launch in early September.

Arbitrum’s TVL is $2.29 billion after a 14% increase over the past week.

Decentralized derivatives exchange dYdX ranks second behind Arbitrum with $838 million or 22% of its value locked in the sector. in comparison Optimism recently attracted just $269 million in locked-in capital, ranking it as the third-largest. with a 7% share of the second tier TVL

dYdX comes in second after Arbitrum with $838 million, or 22% in TVL. Compared to that, Optimism is just $269 million, ranking third, with a share of 7%. Layer 2 TVL

The total TVL of the Layer 2 network hit a record $3.8 billion on Oct. 17.

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