Arbitrum's Surging Token Gains Linked to Robinhood Chain Success
Arbitrum's ARB token has surged 135% in the past month, outperforming Ethereum's modest 8% gain. Traders attribute this boost to Robinhood Chain, a blockchain developed by Robinhood that uses Arbitrum's technology and launched on July 1.
The main driver behind ARB's gains is Robinhood Chain, which generated approximately $1.9 million in revenue from $1.5 billion in trading on its decentralized exchanges within just 24 hours on September 1 and 2. This made it the highest-earning blockchain that day.
However, most of this revenue goes to the Arbitrum DAO's treasury rather than directly benefiting ARB token holders. The DAO allocates 10% of its net protocol revenue to the Arbitrum ecosystem, but this revenue is not directly claimable by ARB holders.
A likely factor in the overall rally was the SEC's exemption issued on September 17, enabling certain venues to trade tokenized U.S. stocks on public blockchains. However, performance varied widely across networks, with Polygon declining about 17.5% that month.