.Arbitrum leads other L2s as general market sees bullish revival
over the past 24 hours to $1.48. The resurgence in Arbitrum is not just dramatic, it is helping to reclaim some of the price values that have been lost since last year.Though the current Arbitrum growth is being fueled in tandem with the broader bullish market sentiment, the L2 network has a number of inherent ecosystem trends that is engineering its accumulation by whale investors.
The move by Arbitrum to distribute governance token rewards to some of its core participants has pushed higher accumulation across the board. Asearlier by U.Today, some of these whales have been receiving bogus bonuses, and while it has fueled a sell-off by some, a good number are also adding to their bags.
The Arbitrum ecosystem is arguably the most profitable in the Ethereum Layer 1 ecosystem at this time, and the sentiment has also been adding to the untracked retail accumulation of the cryptocurrency.
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