ETH L2 Tokens Surge on Dencun Clarity, ETHBTC Showing Signs of Technical Progress
Dec 22, 2023
Market Update Risk assets received another shot in the arm today, with core PCE data registering at just 0.06%, well below the 0.20% consensus estimate. This has led to a continuation of the downward trend in the DXY. Both the SPX and QQQ are up on the day, and gold is edging closer to new YTD highs. In crypto markets, there's been a significant rotation into ETH L2s this morning, especially $OP and $ARB, spurred by the emergence of a detailed timeline for the Dencun upgrade (more on this below). Despite the widespread rally in equities and crypto, $BTC has yet to exceed the $44k mark. $ETH h