$ARB gains 20% in last week after Ethereum faces some critical performance issues, pushing investors toward alternative networks
, has experienced a noteworthy rally in the last eight days, with its value surging by more than 20%. This surge has been primarily driven by the challenging circumstances that Ethereum, the Layer 1 network, has recently faced. Ethereum users have been contending with significant finality issues and exorbitant fees for basic network interactions.
In contrast, Arbitrum's recent trajectory shows the promise of decentralized networks overcoming governance hurdles. A little over a month ago, the Arbitrum Foundation moved 750 million ARB tokens, worth about $1 billion, to its own wallets without community approval. This move was voted against by the community, leading to the proposal of new actions to make the governance of the DAO more accessible.
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