The crypto market is off to a breakout this new year, with the price of bitcoin surpassing $45,000 for the first time since April 2022 amid investors’ anticipation of a potential approval of a spot bitcoin exchange-traded fund in the United States.

Meanwhile, tokens for two major Layer 2 scaling solutions — Arbitrum and Optimism — have witnessed price rallies over the last month — with both trading near their historical highs.

The Arbitrum token gained 13% today, reaching the record high of $1.83 — representing a 60% price jump over the past month. It’s currently changing hands at $1.78 with a market capitalization of $2.3 billion, according to The Block’s Price Page.

The OP token, the native token of the OP Mainnet (previously known as Optimism), reached its record-high price of …