Arbitrum Price Soars 30% on Rising Activity and Revenue

Arbitrum's price surged 30% in the last 24 hours to $0.112, driven by rising activity on Robinhood Chain.

Rising revenue from Robinhood Chain, which uses Arbitrum technology and generated over $1 million in fees, has also contributed to the increase.

Under the revenue-sharing model, 10% of Robinhood Chain's net revenue flows to the Arbitrum ecosystem, providing a significant boost to ARB's price.

A short squeeze has further fueled the rally, with open interest reaching $88.1 million.

However, Arbitrum's price faces resistance at $0.12 and may encounter selling pressure from a September 23 token unlock.