Robinhood's Blockchain Fueled Revenue Boost Sends Arbitrum Token Soaring

Robinhood's new Ethereum layer-2 blockchain has been generating significant revenue in recent days, driving Arbitrum's token price upwards. Over the past 24 hours, Robinhood Chain generated $1.92 million in revenue, surpassing all other blockchains and making it the top earner of any blockchain over that period.

This surge in activity follows a ramp-up in payments on the chain, which has accelerated over the past 10 days. As a result, Arbitrum's token price has risen more than 30% to around 11 cents, breaking out of its previous range of 7-10 cents since June.

The DAO that runs Arbitrum received $175,612 in revenue over the past 24 hours, with more than two-thirds of the chain's total revenue arriving in the past week alone. According to DefiLlama, Robinhood Chain has generated a total of $5.92 million over the past 30 days.