Arbitrum price is poised for a new record high in Q2 Arbitr | Crypto LVL

Arbitrum price is poised for a new record high in Q2

Arbitrum (ARB) has emerged as one of the best-performing cryptocurrencies after Ethereum's long-awaited Shanghai upgrade.

Notably, ARB price gained 4.28% to $1.36 on April 13, its highest level in two weeks. This also amounts to 18% gains from its $1.15 low a day ago when the Shanghai upgrade enabled staking withdrawals on Ethereum.

To recap, Arbitrum is an Ethereum layer-2 (L2) scaling solution that aims to reduce network transaction congestion and transaction fees. As a result, the market typically perceives Ethereum's growth as a boon for L2 chains.