ARB Surges 30% as Robinhood Chain Activity Hits Record High

Arbitrum's token, ARB, has experienced a significant surge in price over the past 24 hours, gaining nearly 30% as it approaches the $0.12 resistance level.

This increase is largely attributed to record activity on Robinhood Chain and a sharp rise in trading volume, with CoinGecko data showing ARB at $0.11 at the time of writing.

The move has left ARB up more than 15% over the past seven days and roughly 45% over two weeks, making it one of the standout performers in the crypto market.

One of the key drivers behind this increase is Robinhood Chain's record 5.52 million transactions on August 30, along with decentralized exchange volume reaching $875 million.