Arbitrum Announces Airdrop, Cathie Wood Raises Private Crypto Funds
Both traditional and crypto markets are rallying today as fears of systemic banking collapses have dissipated slightly. The SPY -0.07% (+1.52%) and QQQ 0.13% (+2.22%) are showing impressive gains, with higher growth names outperforming, as expectations for higher for longer rates are declining in light of recent financial turmoil. BTC 5.22% (+1.49%) continues to show relative strength, with BTC 5.22% .D reaching 45.71%, while ETH/BTC is approaching November 2022 lows. Layer-2 network Arbitrum has announced its token airdrop (more below) and has sparked a rally in the ecosystemâs alt-coins. Tokens such as GRAIL, JONES, and RDNT 6.59% have rallied 41%, 44%, and 22% over the last 24 hours. It will be interesting to watch if airdropping ecosystem participants tokens will drive increased inflows into smaller projects.
