Arbitrum Surges 12% Following Robinhood Listing
Arbitrum’s ARB token saw a 12% surge on Wednesday after U.S.-based trading platform Robinhood (HOOD) added it to its listings. The rally came just 24 hours after ARB hit an all-time low of $0.35.
Currently, ARB is trading at $0.42, bouncing back from its record low. Trading volume has also increased by 10% to $400 million over the past 24 hours.
Despite its recent price struggles, Arbitrum’s total value locked (TVL) remains steady at $2.8 billion, up from $2.5 billion in November, according to data from DeFiLlama.
However, ARB’s price is still down 82% from its 2024 peak of $2.41. One major factor contributing to this decline is token emissions. Since March 2024, ARB’s circulating supply has risen from 1.5 billion to 4.4 billion tokens, diluting its price even though its overall market capitalization has remained relatively stable. Market cap is determined by multiplying the circulating supply by the asset price.
ARB was listed alongside XRP, shiba inu (SHIB), and bonk (BONK) on Robinhood, all of which saw gains between 4.5% and 7% on Wednesday.
Arbitrum’s extended gains compared to other listed tokens may be attributed to its dominance in the layer-2 sector. It leads in total value secured (TVS) and user operations per second (UOPS), according to L2Beat.
Meanwhile, XRP, despite being included in Donald Trump’s U.S. strategic crypto reserve plans, has only $80 million locked in its XRPL decentralized exchange. SHIB and BONK, on the other hand, remain primarily retail-driven memecoins.
