Arbitrum’s native token, ARB, skyrocketed 17% in just 24 hours following rumors of a major partnership with Robinhood. The surge came after Robinhood teased a high-profile crypto announcement involving Ethereum co-founder Vitalik Buterin and Arbitrum’s developers. Traders rushed to buy ARB after Robinhood posted about a fireside chat at its Cannes event, calling it the “biggest crypto announcement of the year.” The token jumped from $0.31 to $0.386 before settling around $0.36. Despite the rally, ARB remains 50% down this year and 85% below its all-time high.
Robinhood’s Blockchain Plans
Speculation about a Robinhood-Arbitrum deal began in May after Bloomberg reported Robinhood was exploring blockchain solutions for European stock trading. The trading platform reportedly considered both Arbitrum and Solana for the project.
Industry experts quickly connected the dots. “Looks like Robinhood chose Arbitrum,” tweeted former Ethereum developer Eric Connor. Omar Kanji of Dragonfly Ventures added, “Ethereum + Arbitrum + RH only means one thing: Robinhood is launching its own chain.” Robinhood’s stock (HOOD) also climbed 1.65% overnight, signaling investor optimism ahead of Monday’s announcement.
Heavy Trading Volume
The ARB token became the top gainer in the crypto market, with trading volume spiking 528% to $770 million. On-chain data showed a 25% increase in active addresses, reaching 418,400 in a single day.
Large transactions also surged, with institutional wallets moving millions in ARB. One wallet linked to Gelato Network sent 20 million ARB ($5.39 million) to market maker GSR. Meanwhile, Anchorage Digital transferred 50.1 million ARB ($15.3 million) to Wintermute, a crypto trading firm. Despite the rally, some investors cashed out. A major holder deposited 63 million ARB into exchanges like Binance and Bybit, likely taking profits.
Also read: Hong Kong Embraces Crypto Regulations – Will China Join In?
What’s Next for Arbitrum and Robinhood?
If confirmed, the partnership could be a game-changer for both companies. Robinhood may use Arbitrum’s layer-2 technology to offer faster, cheaper trading for European users. Arbitrum, in turn, would gain massive exposure through Robinhood’s retail investor base.
Technical indicators suggest more upside potential. ARB’s Relative Strength Index (RSI) hit 57-61, signaling strong buying pressure. Analysts say if the token holds above $0.36, it could test $0.45 next. However, if the announcement disappoints, ARB could drop back to $0.29-$0.30. For now, all eyes are on Robinhood’s Cannes event, where the crypto world awaits the big reveal.
Written By Fazal Ul Vahab C H
