Arbitrum Price Surges on Record Activity at Robinhood Chain

Arbitrum's price surged by 26% over the past 24 hours, reaching $0.1101 on Tuesday. This rally stands out against a backdrop of falling prices for Bitcoin and Ethereum. The reason behind this move lies in the record activity seen on Robinhood Chain, which is built using Arbitrum Orbit technology.

Robinhood Chain has been generating significant revenue from its users, with $2.13 million in chain fees collected over 24 hours, according to DefiLlama. This figure surpasses the $16,000 in chain fees earned by Arbitrum One during the same period. As part of the Arbitrum Expansion Program, a portion of Robinhood Chain's revenue is routed back to the ArbitrumDAO treasury and developer guild, benefiting ARB holders.

Analyst MasterCryptoHq points out that the price action resembles a symmetrical triangle nearing resolution. If Arbitrum breaks above the resistance at $0.1495, it could target $0.1729 next. However, two crucial dates may impact this scenario: the end of September, when Robinhood's 90-day gas subsidy expires, and September 16, when 92.6 million ARB unlock.