Arbitrum Experiences 30% Price Surge Following Approval of Ethereum ETF

As investors swarmed into the Ethereum ecosystem, Ethereum Layer-2 networks like Arbitrum emerged as significant beneficiaries of this change in sentiment. The approval of the Ethereum ETF not only affected Arbitrum but also led to a reshuffling in the wider cryptocurrency market. Solana (SOL) and Cardano (ADA), Ethereum’s main competitors, witnessed a decrease in popularity as projects associated with Ethereum experienced a surge.