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Today’s Cryptocurrency Headline
Ethereum capacity expansion network Arbitrum announced the mainnet of Arbitrum One officially online. The version lifted the whitelist restrictions, open to all users, but Arbitrum development team Offchain Labs reserved upgrade control to continue improving its performance, and quickly respond to possible security incidents. The mainnet of Arbitrum One still uses whitelist to restrict users to add new tokens to the cross-chain bridge, and the validators also have whitelist restrictions. In addition, the public version of Arbitrum One also sets a speed limit of 80,000 arbgas per second, which the team says it plans to increase as the system stabilizes.
Prior to this, Arbitrum, the Layer 2 solution of Ethereum, completed a $120 million financing, led by Lightspeed Venture Partners, with participation from Polychain Capital, Ribbit Capital, Redpoint Ventures, Pantera Capital, Alameda Research, IOSG Ventures, and individual investor Mark Cuban. The funds raised will be used to develop the team and continue to invest heavily in research and development. So far, Arbitrum’s development team Offchain Labs has raised a total of $124 million in funds and a valuation of $1.2 billion.
Bingbon’s Bitcoin Chart
Bitcoin has significantly dropped over the last four days. RSI technical indicator shows sentiment at a new low since August. The $46,000 level will be an important test for Bitcoin, and this support level is the bottom of an upward channel where BTC begins to rebound. A break below that level would push BTC down to $45,000. This move will increase the probability of BTC retesting $40,000. However, there seems to be a trend towards fragmentation in the crypto market. Many altcoins did not follow BTC down, which may suggest that the enthusiasm of funds is not cooling, but waiting to be repaired.