Arbitrum Price Plummets as Robinhood Chain Launch Fails to Deliver

Arbitrum (ARB) has seen a sharp decline in its price over the past 24 hours, falling by 10% to around $0.217 as of 5 p.m. ET on September 24.

This drop comes after a brief rally that saw the token rise near $0.25 on September 23, driven by attention surrounding its connection to Robinhood Chain.

However, despite the hype, the price reversal has raised questions about the market's reaction to the launch of Robinhood Chain, which uses Arbitrum technology and supports Stock Tokens in over 120 countries.