Return of the ETH

ETH's showing signs of life, and top L2s are flying on the tailwinds

Jack Inabinet Dec 22, 2023 • 1 min read

Here we go again! Ethereum is finally showing signs of strength against Bitcoin. The ETH/BTC ratio is up 4.5% to 0.053, and top L2s decided to come along for the ride, with Arbitrum gaining 19% and Optimism surging 26% on the day. It looks like rumors of Ethereum’s death have been greatly exaggerated…

Of course, broader crypto market conditions have been hostile to every alt lately, and Ether is no exception here, but this momentary burst of strength cleared the headroom that L2s needed to rally.

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Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial apartment development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business and remains based out of the Seattle area.

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Return of the ETH

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