Why Altcoins Like Optimism and Arbitrum Soared Today
Wednesday was a banner day for cryptocurrencies, and that's saying something for an asset class that has bounced up and down on major events over the years. A series of regulatory approvals, while fully expected and anticipated by the market, boosted the prices of many coins and tokens that day.
Among the beneficiaries were altcoins Optimism (CRYPTO: OP) and Arbitrum (CRYPTO: ARB), which enjoyed 20%-plus gains (of a respective 21% and 24%, to be exact). Lido DAO (CRYPTO: LDO) and Maker (CRYPTO: MKR), to name another two, didn't rise as much but still booked double-digit gains of 15% and 13%, respectively.
So, the big, market-moving news the cryptoverse expected would happen early this year finally occurred. Meeting its Jan. 10 deadline to render a decision on at least one of the 11 firms applying to publicly offer spot Bitcoin exchange-traded funds, the Securities and Exchange Commission (SEC) turned on the green light for all of them.
Source Fool.com
