{"id":85067,"date":"2023-06-08T00:51:00","date_gmt":"2023-06-07T20:51:00","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=85067"},"modified":"2023-06-08T02:13:14","modified_gmt":"2023-06-07T22:13:14","slug":"ethereum-layer-2-tokens-stir-unexpected-crypto-optimism","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/ethereum-layer-2-tokens-stir-unexpected-crypto-optimism\/06\/08\/market-updates\/","title":{"rendered":"Ethereum Layer 2 tokens stir unexpected crypto optimism"},"content":{"rendered":"\n<p>Arbitrum and ImmutableX started price rallies in response to the SEC\u2019s regulatory crackdown. Optimism completed its Bedrock hard fork earlier today, reducing the Layer 2 solution\u2019s gas fees by 40%. OP, ARB and IMX prices yielded between 3% and 6% gains for holders since Tuesday.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>In other words, while mainstream cryptocurrencies took a hit after the US financial regulator\u2019s actions, Layer 2 tokens such as Optimism (OP), Arbitrum (ARB) and Immutable X (IMX) yielded gains for holders. The price rallies in Layer 2 tokens are likely a spillover effect of decentralized exchanges\u2019 popularity after the legal woes faced by Binance and Coinbase.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Despite the common belief that US regulators\u2019 warpath will not cause global problems for crypto, Bitcoin (BTC) price remains below the foothold of a slow-moving Simple Moving Average (SMA), suggesting a lack of buyer participation. The king of crypto\u2019s mood has affected the crypto top ten, including Ethereum (ETH) and Ripple (XRP).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Arbitrum and ImmutableX started price rallies in response to the SEC\u2019s regulatory crackdown. Optimism completed its Bedrock hard fork earlier today, reducing the Layer 2 solution\u2019s gas fees by 40%. OP, ARB and IMX prices yielded between 3% and 6% gains for holders since Tuesday. In other words, while mainstream cryptocurrencies took a hit after &hellip;<\/p>\n","protected":false},"author":13,"featured_media":69864,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,36],"tags":[7344,6903,6905],"class_list":["post-85067","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-market-updates","tag-coinbase","tag-cryptocurrencies","tag-ethereum"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/85067","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=85067"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/85067\/revisions"}],"predecessor-version":[{"id":85068,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/85067\/revisions\/85068"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/69864"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=85067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=85067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=85067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}