Arbitrum Backtracks on Governance Proposal and Bittrex winds down U.S. Operations
Apr 3, 2023
Market Update After a choppy weekend, $BTC and $ETH are flat on the day, down 0.68% and up 0.06%, respectively. SPX is down 0.02% at the time of writing, and NDQ is down 0.92%. Most altcoins have underperformed BTC and ETH—$SOL is down 1.32%, $OP is down 1.82%, and $ATOM is down 1.12%. Ethereum Layer 2, Arbitrum, was hit the hardest this weekend after the team backtracked on a governance proposal (which we discuss in more detail below). $ARB is down 3.38% today and has declined nearly 20% from its highs last Friday. An exception to the altcoin underperformance is the Liquid Staking Derivati