Arbitrum Token ARB Rallies 26% Amid Strong Network Activity and Revenue Growth
Arbitrum's token ARB has rebounded strongly in recent days, gaining around 26% over 24 hours to reach levels not seen since early January. The altcoin broke above $0.20 after being rejected at that level two weeks prior and falling as low as $0.13.
The price surge is attributed to the support of Standard Chartered's initiation of ARB coverage with a $10 price target for 2030, as well as increased Robinhood Chain activity which has significantly strengthened Arbitrum's revenue.
Network activity and revenue have been key indicators of the token's growth, with transactions climbing to 2.3 million, active addresses increasing to 113,600, and net inflows reaching $82 million on September 17th before easing to $44 million.
Bearish derivatives traders are also feeling pressure, with short liquidations totaling $5.24 million over the previous 24 hours compared to just $1.39 million in long liquidations. If broader conditions remain supportive, ARB could reclaim $0.22 and target $0.27 over the short-to-medium term.