ECB’s Panetta: Bitcoin (BTC) Will Likely Benefit From the ECB's Looser Monetary Policy

ECB executive board member Fabio Panetta said on Tuesday that the ECB “can gradually reduce rates in line with the disinflation process.”

According to a recent analysis by Footprint Analytics, a staggering 97% of Arbitrum holders are currently underwater, highlighting the challenges faced by L2 users in 2023.

The analysis, which covered the period from Arbitrum's Odyssey launch on August 15, 2023, to the present day, revealed that the average loss among Arbitrum holders stood at 4.3 ETH. Notably, the analysis only factored in the initial purchase price and the current market value, without considering any additional transactions or income.

As of March 1, 2024, the total Arbitrum loss reached 1,033,000 ETH, with an average loss of 4.3 ETH per holder. Among them, 97% of holders are underwater. The average holding period is 421 days, and the average holding quantity is 7.1 ETH. Theέρα Arbiturm Odyssey began on August 15, 2023, and Footprint Analytics began tracking Arbiturm holder data on September 1, 2023. Hence, the analysis covers a period of about 17 to 18 months.

The analysis also revealed that the average holding period for Arbitrum holders was 421 days, while the average holding quantity was 7.2 ETH. Theέρα Arbitrum Odyssey commenced on August 15, 2023, and Footprint Analytics began tracking Arbiturm holder data on September 1, 2023. Hence, the analysis covers a period of approximately 17 to 18 months.

The Footprint Analytics data provides valuable insights into the performance of L2 users in 2023, highlighting the challenges faced by many holders. As the crypto market recovers in 2024, L2s are expected to play a crucial role, and the performance of L2 users will be a key factor to watch.