A blow to Layer-2s from Bitcoin (BTC): They fell the most!

Layer-2 projects, which put themselves at the forefront with the emergence of Ethereum (ETH**), were shaken by the Bitcoin'in** (BTC) movement.

The breakout of the ETH/BTC parity, which has been in a downward trend since the beginning of September 2022, directly lit the wick of altcoins. The projects that benefited the most from this development were Arbitrum and Optimism, the apple of the eye of Layer-2s. Popular coins, which gained incredible attention in a very short time, were later shaken by the sharp decline of BTC. Could it be that the ARB and OP that have placed on the "Most Most Losers" list with their price movements in the last 24 hours are ringing the alarm bells on behalf of Layer-2s?

## Profit realizations have arrived!

ARB and OP, which clearly marked 2023 and created great expectations for 2024, were among the most rising altcoins in recent days. In particular, the ARB, which exhibited a horizontal price movement for weeks, dominated the market by making an effective breakout. In this process, Layer-2 projects, which have risen almost unabated, have offered a good earning opportunity to their investors.

The BTC decline, which started after the approval of spot BTC ETFs, undermined the fastest-rising coins. For example, ARB, OP and HNT were among the rising projects of recent times. When we look at the decline that came with the pessimistic mood in BTC, these projects were the ones that lost the most value.

Considering Ethereum's developments in the new year and the trend breakout in the ETH/BTC parity, this decline in Layer-2 can be interpreted as profit realization. Especially in the Turkish crypto ecosystem, the expectations of 2024 from ARB and OP, which have a serious investor base, are very, very large.