- Ethereum (ETH) is up 6% in the past day, but scaling solutions like Optimism (OP), Arbitrum (ARB), and Polygon (MATIC) have seen even bigger gains as interest in scaling Ethereum grows.
- Tokens associated with Ethereum scaling projects like Optimism (OP), Arbitrum (ARB), and Polygon (MATIC) have surged over 30% in the past 24 hours.
- Renewed interest in scaling Ethereum comes as developers look for ways to improve network performance, while competing blockchain Solana has also rallied recently.
Ethereum (ETH) is up over 6% in the past day, but its scaling solutions are seeing even bigger gains. Projects like Optimism (OP), Arbitrum (ARB), and Polygon (MATIC) aim to make Ethereum faster and cheaper. Their tokens have surged over the past 24 hours as interest in Ethereum scaling solutions grows.
Ethereum’s Price Bump
Of the top 20 biggest digital coins and tokens, Ethereum (ETH) is up over 6.5% in 24 hours to around $2,350. But that pales in comparison to the performance of tokens associated with projects working to scale Ethereum.
Massive Gains for Ethereum Scaling Tokens
Optimism (OP) is up 30% in the past day, trading around $4.11. It uses “rollups” to batch Ethereum transactions, increasing throughput. Arbitrum (ARB) uses a similar approach and has gained over 16% to $1.50. Polygon (MATIC), which runs a sidechain to relieve pressure on Ethereum, has jumped 12% to over $1.
Renewed Interest in Scaling Ethereum
These projects have seen renewed interest this year as developers look for ways to improve Ethereum’s network performance. Their price jumps come as competing blockchain Solana (SOL) has also rallied, gaining over 440% in the last three months.
Other Top Cryptocurrencies
Bitcoin (BTC), the largest cryptocurrency, is up modestly, trading around $43,000. Meanwhile, Bitcoin spinoffs like Bitcoin SV (BSV) and Bitcoin Cash (BCH) have posted double-digit gains in the past day. Overall crypto market capitalization now stands at $1.76 trillion after a 4% single-day increase.
