Arbitrum Surges on Robinhood Chain Growth

Arbitrum's (ARB) price surged by 4.04% in the last 24 hours, driven by the growth of Robinhood Chain and a broader market rebound.

The explosive growth of Robinhood Chain, an Ethereum L2 built on Arbitrum Orbit, has generated substantial revenue for the Arbitrum DAO and ARB holders. The chain's DEX volume report highlights its public mainnet reaching $945 million in daily DEX volume by late August and over $47 billion cumulative DEX volume in under two months.

Robinhood Chain paid 10% of sequencer revenue to Arbitrum, with the chain also leading all chains in gas fees on Sept 2. The Uniswap price surge was driven by Robinhood Chain, paying about $1.32 million to the Arbitrum ecosystem in 30 days.

The overall crypto market has experienced a bounce, with total crypto market cap up about 3.64% in 24 hours and BTC recovering from a geopolitics-driven dip. This market-wide rebound has also contributed to ARB's move.