Ethereum eyes $3,000 as Layer-2 tokens ARB and STRK post double-digit gains, highlighting the increased volatility of smaller market-cap assets during broader crypto rallies.
Arbitrum surged 26% after Standard Chartered initiated coverage with a $0.50 target, supported by Arbitrum DAO revenue growth from the Robinhood Chain.
Ethereum rose 6.8% and is trading above the $2,672 Fibonacci level, with next target $2,950-$3,000, driven by ETF inflows and market-wide buying.
Starknet gained 18% despite a $3.5 million exploit on Nostra lending protocol, reaching its highest price since June 19.
Bitcoin rose above $80,000, contributing to the broader market rally that lifted Ethereum and Layer-2 tokens.
Ethereum has climbed to $2,700, clearing key technical resistance as broader market sentiment improves. While Ethereum's gains remain steady, smaller Layer-2 tokens like Arbitrum and Starknet have experienced outsized volatility, surging significantly on the back of targeted institutional research and network-specific developments.
Due to their significantly smaller market capitalizations, these tokens require less buying pressure to move prices, leading to higher volatility compared to the much larger Ethereum network.