- ARB surged 20% to $0.39 on Robinhood partnership speculation.
- Trading volume spiked 528% to $770M, with $308.6M in DEX activity.
- Yapyo SocialFi presale boosts demand for ARB, USDC, and ETH.
The price of ARB, Arbitrum native token, increased by more than 20 percent in 24 hours as the token hovered at $0.39, rising to settle at $0.36. The rally comes after speculation that it might collaborate with Robinhood Markets Inc. to build a blockchain platform to cater to European investors who acquire U.S. stocks. This information has attracted the attention of the market since this is what provoked excessive trading volume and transactions on the blockchain.
Partnership Speculation Fuels Rally
The talk that stoked the buzz was organized as a fireside chat in Cannes on July 1 with Ethereum co-founder Vitalik Buterin, Robinhood Crypto General Manager Johann Kerbrat, and A.J. Warner, Chief Strategy Officer at Offchain Labs. The announcement, which has been hyped as the largest cryptocurrency announcement of the year by Robinhood, has given rise to speculation of Robinhood partnering with Arbitrum, one of the most preferred Ethereum Layer-2 scaling solutions.
That rumour is based on statements that Robinhood was considering the possibility of creating a blockchain-based platform in May of 2018, on the Bloomberg news portal. Possible partners were named, including Arbitrum and Solana, at which time discussions were being held at that time. The situation that is next to be seen has elevated the hope that Arbitrum might win this strategic partnership, which would increase the adoption and liquidity of the same.
The volume of trading increased 528 percent to $770 million within 24 hours as investors demanded it. According to on-chain statistics, there has been a 25 percent growth in the number of active wallets, as well as 308.6 million in trade volume on decentralized exchanges (DEX), as Arbitrum’s 30-day cumulative net figure surpassed 17 billion. According to CoinGecko, the market cap is currently at $1.79 billion.
On-Chain Activity and Technical Signals
Beyond partnership rumors, Arbitrum’s network utility is driving momentum. The platform has achieved an application revenue of 137,000 dollars and a stablecoin market cap of 3.3 billion dollars. It has also been boosted by the Yapyo SocialFi presale taking place on Arbitrum, where there is now enormous demand in ARB, USDC, and ETH products ahead of its July 1 launch. This presale, which is associated with a social sentiment tracking platform, is a reminder of how much Arbitrum is becoming part of decentralized finance.
Technical indicators point to sustained bullish momentum. The Relative Strength Index (RSI) has reached 57, and this indicates the dominance of buyers. The Moving Average Convergence Divergence (MACD) indicates a bullish crossover, which indicates that it has a possibility of additional upside. In case the value of ARB remains higher than 0.35, analysts predict the advance to 0.40, and 0.50 could be a realistic goal. Nevertheless, a failure to validate the partnership may have the prices pull back to $0.29 support.
Another driver is the integration of Aritrum in the real-world assets (RWA). The capability of Gemini to issue settlement layers using Arbitrum to bear the cost of tokenizing MicroStrategy stock is evidence of its infrastructure power. This decision, coupled with the migration of protocols such as Uniswap V3 and GMX, makes Arbitrum one of the most important policies to scale Ethereum transactions.
The developers and users are flocking to the platform because of its low-cost, fast transactions. Arbitrum shows a solid ecosystem by having more than three hundred million in RWA activity and one million and forty-two in weekly revenue. These basics, coupled with partnership speculation, have led to a 40 percent price climb in a week, recovering the June dips of $0.2527.
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