Ethereum and its Layer2 ecosystem have shown strong performance. OP and ARB have increased by 30.2% and 15.4% respectively, with OP reaching a new all-time high. In addition, liquidity staking protocols such as LDO and LSDFi, like Lybra (LBR), have also performed well, increasing by 14.8% and 19.65% respectively.
(Previous summary:
Coin Market Review: OP, ARB, Metis… Ethereum L2 surges over 20%, ETH breaks $2300 mark)
(Background:
Ethereum announces Dencun upgrade timeline! Goerli testnet to launch on January 17th, mainnet by the end of February)
Table of Contents
Impressive Performance of Ethereum Layer2
OP Breaks Through 3.5 Magnesium, Reaching All-Time High
ARB Whale Adds 2.91 Million ARB Tokens
Layer2 TVL Increased by 17.47% in 7 Days
Strong Rise of Liquidity Staking Protocols and LSDFi
LDO Increased by Nearly 15%
LBR Increased by Nearly 20%
With Bitcoin oscillating near $43,800, a slight decrease of 0.4% in the past 24 hours seems to indicate a temporary pause in upward momentum. Meanwhile, Ethereum has shown stronger performance. Since the Ether-to-Bitcoin ratio hit its lowest point since June last year at 0.04977 on the 20th, a significant reversal has occurred. Yesterday, this ratio increased by 3.54%, reaching 0.05366 at one point, and was quoted at 0.05269 at the time of publication.
In trading on the 22nd, the price of Ether rose to $2,343.15, an increase of 3.79%, and was temporarily reported at $2,304 prior to publication.
Source: TradingView
Furthermore, Ethereum Layer2 has shown even more impressive performance, with ARB, OP, and Metis increasing by 15.4%, 30.2%, and 27.5% respectively in the past 24 hours.
Among them, the price of OP reached a high of $3.544 yesterday, setting a new all-time high, and was temporarily reported at $3.33 prior to publication, showing very strong performance. According to Coinglass data, the short positions of OP were liquidated by $5.02 million in the past 24 hours, second only to BTC, ETH, and SOL.
OP price chart. Source: Binance
ARB reached $1.44 at one point yesterday and slightly retreated to $1.36 prior to publication. According to the observation of the on-chain analysis expert Yujin, during yesterday’s surge, a whale withdrew 2.91 million ARB tokens (equivalent to $3.66 million) from the OKX platform at a price of $1.26 per unit. The total amount of ARB currently held by this trader has reached 4.15 million (worth about $4.81 million), with an average purchase cost of $1.16 per unit.
This whale’s previous operations have also been very successful, with a successful profit of 43% from buying and selling within five days in April.
In addition, according to L2BEAT data, the total value locked (TVL) in Ethereum Layer2 has reached $18.37 billion, with a 17.47% increase in the past 7 days.
Among them, the top five locked amounts are Arbitrum One ($8.84 billion, 7-day increase of 8.39%), OP Mainnet ($6 billion, 7-day increase of 36.51%), Base ($740 million, 7-day increase of 5.96%), zkSyncEra ($575 million, 7-day decrease of 14.24%), and dYdX ($350 million, 7-day increase of 0.34%).
Furthermore, Lido (LDO), the leader in Ethereum’s liquidity staking protocols, increased by 14.8% yesterday, reaching a high price of $2.467, with a difference of less than $0.2 from the previous high, and was quoted at $2.363 at the time of publication.
LDO price chart. Source: Binance
At the same time, LSDFi, a financial application built on liquidity staking tokens, has also performed well. Lybra (LBR) increased by 19.65% yesterday, reaching a high of $1.328, and was temporarily reported at $1.261 prior to publication.
The strong performance of the Ethereum ecosystem can be partly attributed to the progress of the Dencun upgrade. On the 22nd, the Ethereum Dencun upgrade timeline was officially finalized, with plans to launch testing on the Goerli testnet on January 17th and go live on the mainnet before the end of February.
Source: TradingView
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Tags:
ARB
Layer2
LBR
LDO
OP
Ethereum