Arbitrum Surges on Robinhood Listing, But Still Faces Challenges
Arbitrum’s price climbed 12.9% after Robinhood announced its listing. This Ethereum layer-2 solution, known as ARB, is now tradable on Robinhood, alongside Bitcoin, Ethereum, adn Solana.
On March 5, Robinhood shared the news on X. Users can now trade ARB through Robinhood Crypto.Despite the price jump to $0.4258, ARB is still 82% below its all-time high of $2.26, reached in January 2024.
arbitrum’s token might be poised for a bullish breakout.In late January, crypto.news noted a 118% jump in token volume. This surge, along with a falling wedge pattern, could push the price to $1.2470.
On-chain data from Artemis shows daily transactions rose 25% to 2.8 million. The top three active addresses are linked to Tether and Circle, suggesting increased stablecoin conversions.
ARB was founded in 2016 to help Ethereum manage more transactions at lower costs. By offloading some processing and storage, Arbitrum reduces fees and congestion.
Arbitrum aims to improve Ethereum’s efficiency. With its listing on Robinhood, ARB may attract more traders, but its journey to regain its peak value remains uncertain.
