Crypto traders and investors are increasingly seeing Arbitrum's ecosystem as a likely spot for capturing returns around the 100-times-plus multiples sometimes witnessed in prior bull markets. Ether, Dogecoin tumble. shauryamalwa and JPRubin23 report
plunged following the Fed’s announcement, with the tech-heavy Nasdaq off 3.3% and the S&P 500 and Dow Jones Industrial Average off 2.5% and 1.5%, respectively. Investors remain concerned about the central bank’s strategy to combat rising prices, and the prospect of a harsh recession.
shows, with the ecosystem now holding over $1 billion. Popular trading tool GMX accounts for 43% of all this TVL. “Since Oct. 10, weekly active users have grown 125% to reach a new all-time high of 282K, even surpassing numbers recorded during the Arbitrum Odyssey event,” they said, referring to a week-long initiative held in July meant for users to explore the Arbitrum ecosystem with exclusive non-fungible tokens as rewards.
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