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, as well as Lybra (LBR), have also performed well, with increases of 14.8% and 19.65% respectively.
Summary:
OP, ARB, and Metis see over 20% increase in Ethereum L2, while ETH surpasses $2,300.
Background:
Ethereum announces upgrade timeline! Goerli testnet to launch on January 17th, with mainnet release by the end of February.
Table of Contents:
Impressive performance of Ethereum Layer2
OP breaks through $3.5, reaching a new all-time high
ARB whale adds 2.91 million ARB tokens
Layer2 TVL increases by 17.47% in 7 days
Liquidity staking protocols and LSDFi surge
LDO increases by nearly 15%
LBR rises by nearly 20%
As Bitcoin continues to oscillate around $43,800, a slight 0.4% decrease in the past 24 hours suggests a temporary halt in the upward momentum. Meanwhile, Ethereum demonstrates a stronger performance. Since the Ether-to-Bitcoin ratio hit its lowest point of 0.04977 in mid-June last year, a clear reversal has occurred. Yesterday, the ratio increased by 3.54% and reached 0.05366 at one point, with the current quote at 0.05269.
In trading on the 22nd, the price of Ether briefly surged to $2,343.15, a 3.79% increase, with a current quote of $2,304.
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 briefly surged to $3.544 yesterday, reaching a new all-time high, with a current quote of $3.33. According to Coinglass data, there was a $5.02 million short position liquidation for OP in the past 24 hours, ranking just below BTC, ETH, and SOL.
OP price chart. Source: Binance
ARB reached $1.44 at one point yesterday before slightly retracing, with a current quote of $1.36. According to the observation of Chain Analyst Yujin, a whale withdrew 2.91 million ARB tokens (equivalent to $3.66 million) from the OKX platform during yesterday’s surge, at a price of $1.26 per unit. The total amount of ARB held by this trader reached 4.15 million (worth approximately $4.81 million), with an average purchase cost of $1.16 per unit.
This whale has had successful operations in the past, successfully adding positions in April and selling for a profit of 43% within five days.
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 values 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 liquidity staking protocols, increased by 14.8% yesterday, reaching a high of $2.467, with a current quote of $2.363, less than $0.2 away from the previous high.
LDO price chart. Source: Binance
At the same time, LSDFi, a financial application built on liquidity staking tokens, has also achieved good performance. Lybra (LBR) increased by 19.65% yesterday, reaching a high of $1.328, with a current quote of $1.261.
The strong performance of the Ethereum ecosystem can be partially attributed to the progress of the Dencun upgrade. On the 22nd, the Ethereum Dencun upgrade timeline was officially announced, with testing to begin on the Goerli testnet on January 17th and mainnet release expected before the end of February.
Source: TradingView
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Tags:
ARB
layer2
LBR
LDO
OP
Ethereum