ETH Showing Signs of Life, Arbitrum Introduces Locking Mechanism

Name: FS Insight
Price range: $$$

Nov 6, 2023

Author

Sean Farrell ^AC

AAVE -13.03% BTC -1.83% ETH -5.47% RUNE N/A% XRP -5.85%

Market Update Risk assets are starting the week on a strong note after a week marked by dovish data and the US Treasury's accommodating refunding schedule. Despite today's bounce in interest rates, the DXY remains relatively flat. Major equity indexes are showing slight gains, with healthcare and technology stocks leading the way. In the crypto market, assets are generally on the rise, with the recent rally broadening to other areas of the market. $BTC is hovering around the $35k level, while $ETH and related assets have shown signs of life, with ETH up approximately 5% relative to BTC since last Thursday. Notable outperformers today include $AAVE, the leading multichain borrow/lend protocol, Thorchain ($RUNE), a decentralized cross-chain liquidity protocol, and $XRP, which appears to be rallying in anticipation of the SEC's November 9th deadline to settle its lawsuit against Ripple for institutional sales.The Arbitrum DAO has approved a governance proposal enabling $ARB token holders to lock their tokens in exchange for a yield funded by the treasury, distributed over 12 months via a smart contract. The proposal, which received majority support for the lowest 1% allocation of the ARB supply for staking, presents an estimated annualized yield ranging from 7.84% to 78.43% based o

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