Jakarta, Pintu News—Arbitrum , the native token of the layer-2 Ethereum network, saw a significant rise after it was announced that it had been listed on the popular trading app Robinhood.
This price increase comes just a day after Arbitrum recorded an all-time low.
This listing increases trading volumes and provides an important indication regarding the adoption and acceptance of blockchain technology among retail investors.
Check out the full news below!
Robinhood, a US-based trading app, recently added Arbitrum (ARB) to its list of traded crypto assets. This listing caused the price of ARB to rise 12% to $0.42, despite hitting a low of $0.35 the day before.
ARB’s trading volume increased by 10%, reaching $400 million in the last 24 hours. This listing marks an important step for Arbitrum, joining other tokens such as Ripple , Shiba Inu , and Bonk , which are also listed on the same platform.
ARB’s higher price increase than other tokens may be due to its position as the leading layer-2 network with high total value locked (TVL) and user operations per second.
Read also: Is Pi Network (PI) Poised for a $10 Breakout? Analysts Unveil a Major Opportunity!
Despite the significant price increase post-listing, Arbitrum still faces challenges in the long run. The current token price is still down 82% from its 2024 record high of $2.41.
However, Arbitrum’s total value locked (TVL) remained stable at $2.8 billion, up from $2.5 billion in early November.
This relative success shows that while the token price may fluctuate, the adoption and utility of the Arbitrum network continues to grow. This indicates strong long-term potential, especially as Arbitrum continues to lead in innovation and scalability among layer-2 solutions.
Read also: Pi Network Price Predicted to Touch Rp1.6 Million if SEC Approves Pi ETF?
Robinhood’s listing of Arbitrum not only impacted the price of ARB but also signaled increased crypto interest and adoption among retail investors. Robinhood itself reported a 700% year-on-year surge in crypto revenue.
This shows that these trading platforms are important in bringing crypto assets to a wider audience. Moreover, the decision to list tokens like Arbitrum shows confidence in blockchain technology and its potential for further growth.
This could be a positive indicator for the crypto market as a whole, especially in attracting new investors looking for innovative and potentially profitable assets.
Arbitrum’s listing on Robinhood has positively impacted the token’s price and adoption. While challenges remain, the long-term outlook for Arbitrum and other layer-2 technologies looks bright. Investors who understand these dynamics may find interesting opportunities in the crypto world’s frequent market fluctuations.
Follow us on Google News for the latest updates on crypto and blockchain technology. Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now.
Experience web trading with advanced trading tools such as pro charting, various order types, and portfolio tracker only at Pintu Pro. Click Register Pintu if you don’t have an account or click Login Pintu if you are already registered.
*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
Reference