Following the approval of the Spot Bitcoin ETF, all eyes turned to Ethereum, while Arbitrum (ARB), one of the largest altcoins of the ecosystem, reached its highest level.
US Securities and Exchange Commission (SEC) last night (GMT+3) 11 spot Bitcoin ETFs gave approval for. While no major movement was observed in the Bitcoin price after the approval in question. converted to Ethereum eyes triggered the rise in price.
The rise that came with the expectations of Spot Ethereum ETF also caused major movements in the altcoins in the ecosystem. Arbitrum, the Ethereum layer-2 protocol that stands out with its cheapness and speed, is responsible for the rise. One of the altcoins that got the most share happened.
According to CoinGecko data, in the last 24 hour period $1.99 from levels 20% with rise for $2.36 reaching ARB, to an all-time high (ATH) reached. Even if ARB withdraws slightly later 16% with rise from $2.3 finds buyers.