Optimism TVL surges nearly 300% M/M ahead of The Merge upgrade
The Ethereum scaling solution has surpassed $1 billion in total value locked within a matter of weeks. According to data from DeFi Llama, total value locked (TVL) on Optimism, a layer-two scaling solution for the Ethereum blockchain, has surged 284% in the past month. The vast majority of TVL consists of users lending and borrowing assets on Aave through Optimism's layer-two chain.Investors have been bidding up digital assets related to the Ethereum ecosystem in anticipation of The Merge upgrade, which will see the blockchain transition from a proof-of-work network to that based on....
Related News
Total value locked (TVL) on Optimism, a layer-2 scaling solution for the Ethereum blockchain, has increased 284% in the last month, according to data from DefiLlama. Users lending and borrowing assets on Aave through Optimism’s layer-2 chain make up the vast majority of TVL. Ethereum Optimism TVL Surges In anticipation of The Merge update, which will see the blockchain switch from a proof-of-work network to one based on proof-of-stake, investors have been bidding up digital assets tied to the Ethereum ecosystem. The merge will be tested by Ethereum developers on the Goerli testnet on....
Ethereum was formerly developed as a PoW blockchain. However, it’s been planning to transition to PoS through an upgrade tagged the merge. The process, which has different phases, is almost getting to completion as the date for the merge draws closer. The target is September 15 and would finally merge the Ethereum mainnet and the […]
The Ethereum community and the entire crypto space will soon witness the Merge launch, the long-awaited upgrade. It’s a transition for the Ethereum mainnet from PoW to PoS consensus mechanism. It has become one of the most hyped events in the industry as many people are presenting different opinions about it. Over the past few weeks, sentiment on the Merge boosted the price of Ether. Despite some slight downward moves in the broader crypto market, ETH remained one of the tokens with a more impressive performance. Related Reading: Bitcoin Profitability Jumps As Price Adds $1,500 In 24....
The need to update Ethereum clients comes as the Bellatrix upgrade is set to enable the Beacon Chain to execute transactions. As many as 73.5% of Ethereum nodes are now marked as “Merge ready” ahead of the upcoming Bellatrix upgrade for Ethereum on Sept. 6, according to data from Ethernodes. The Bellatrix upgrade is seen as one of the last necessary steps prior to the official Merge, which will see Ethereum transition to a proof-of-stake consensus mechanism between Sept. 10-20.To become Merge ready, Ethereum node operators must comply with the Bellatrix upgrade by updating its consensus....
Optimism eyes an increase in adoption after the Merge upgrade triggers Ethereum's "Rollup-Centric Roadmap." The price of Optimism (OP) has been skyrocketing since the beginning of July due to its proximity to Ethereum.Notably, OP's price rallied by nearly 300% in over a month to reach $2.31, its second-highest level on record, on Aug. 4. The token received its bullish cues primarily from the euphoria surrounding Ethereum's potential transition to proof-of-stake in September via an upgrade called "the Merge."OP/USD four-hour price chart. Source: TradingViewWhy the "Optimism"To recap:....