Return of the ETH | Bankless

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.