Investors swarmed towards the Ethereum ecosystem, leading to significant gains for Ethereum Layer-2 networks like Arbitrum. The approval of the Ethereum ETF not only affected Arbitrum but also sparked a reshuffling in the wider cryptocurrency market. Solana (SOL) and Cardano (ADA), Ethereum’s main competitors, witnessed a decline in interest as projects associated with Ethereum saw a surge.
Following the green light for the Ethereum ETF, Arbitrum records a remarkable 30% surge in price.
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