Arbitrum Surges 12% as Robinhood Expands Crypto Offerings
Arbitrum’s ARB token saw a 12% spike on Wednesday following its addition to U.S.-based trading platform Robinhood (HOOD). The listing comes just a day after ARB hit an all-time low of $0.35, fueling renewed investor interest.
Currently, ARB is trading at $0.42, recovering from its recent bottom. Trading volume has also surged by 10%, reaching $400 million in the last 24 hours.
Despite ARB’s price struggles, the total value locked (TVL) in the Arbitrum network has remained strong, currently standing at $2.8 billion—up from $2.5 billion in November, according to DeFiLlama.
However, ARB remains 82% below its 2024 peak of $2.41. This price decline is largely attributed to token emissions, with circulating supply increasing from 1.5 billion to 4.4 billion since March 2024. While this has led to downward price pressure, the market capitalization has remained relatively stable, as it is calculated by multiplying the circulating supply by the asset price.
ARB’s listing on Robinhood came alongside XRP, shiba inu (SHIB), and bonk (BONK), all of which recorded gains of 4.5% to 7% following the announcement.
Arbitrum’s stronger rally compared to the other listed tokens may be due to its dominant position in the layer-2 space. It leads in total value secured (TVS) and user operations per second (UOPS), according to L2Beat.
Meanwhile, XRP—despite being included in Do
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