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Arbitrum extends lead over Optimism as Uniswap posts record volume on L2

The world’s hottest decentralized alternate, Uniswap, is seeing layer-two volumes surge as Ethereum transaction charges surge as soon as once more.

On Tuesday, Uniswap founder Hayden Adams tweeted that each day volume throughout v3 deployments of the decentralized alternate on layer-two networks has pushed into record ranges. Adams estimated that Uniswap v3 processed an unprecedented $115 million in mixed each day volume throughout the Arbitrum and Optimism networks with out offering a supply.

While Adams’ put up was printed amid peak United States buying and selling hours, knowledge sourced from analytics supplier Nomics on the time of writing (3:00 am UTC) means that Uniswap v3 drove $80 million in volume on Arbitrum and roughly $14 million on Optimism over the previous 24 hours, respectively.

However, Uniswap’s v3 mixed layer-two volumes are nonetheless tiny in contrast to its mainnet deployment, which at present represents $1.3 billion in each day exercise, in accordance to CoinGecko.

Related: Ethereum layer twos reportedly processing more transactions than Bitcoin

Despite the Ethereum Foundation and crypto enterprise big Andressen Horowitz backing Optimism, Arbitrum seems to have emerged as the decentralized finance neighborhood’s second-layer rollups answer of alternative.

According to layer-two knowledge aggregator L2beat, Aribtrum represents 60% of the full worth locked (TVL) throughout layer-two networks mixed since its mainnet launch in early September. Arbitrum’s TVL at present sits at $2.29 billion after rising by 14% over the previous week.

Decentralized derivatives alternate dYdX ranks second behind Arbitrum with $838 million or 22% of worth locked within the sector. Comparatively, Optimism has attracted simply $269 million in locked capital, rating as the third-largest layer two with a 7% share of TVL.

The mixed TVL of layer-two networks tagged a record-high $3.8 billion on Sunday.

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