What to Know Robinhood Chain’s decision to allocate 10% of chain fees to Arbitrum supported ARB gains alongside record on-chain trading activity growth. Secret Network proposed migrating from
What to Know
Robinhood Chain has committed 10% of its chain fees to the Arbitrum ecosystem, adding fresh support for ARB as network usage continues to accelerate. At the same time, record decentralized exchange activity and Secret Network’s proposed migration have strengthened attention on the Ethereum layer-2 platform.
CoinGecko data showed ARB rose 7.6% following the announcement. Besides the price increase, the partnership reinforces Arbitrum’s role within Robinhood’s blockchain strategy. Arbitrum described the relationship by noting that Ethereum secures the network, Arbitrum powers Robinhood Chain, and Robinhood brings millions of users on-chain.
Network activity also reflected growing adoption. Robinhood Chain processed more than $560 million in decentralized exchange volume on July 8, setting a new daily record. Additionally, daily active addresses approached 200,000, while over 140,000 wallets became active for the first time.
Development activity expanded alongside user growth. Nearly 16,000 new tokens launched during the same day, highlighting increasing participation across the ecosystem. Moreover, seven meme coins surpassed a $1 million market capitalization. Cash Cat led the group after climbing beyond a $100 million valuation.
Also Read: XRP Open Interest on Binance Hits Three-Month Low as Trader Activity Slows
Arbitrum’s ecosystem could expand further as Secret Network proposed leaving the Cosmos ecosystem and migrating to the network. The proposal cited security concerns stemming from the recent $4.7 million exploit involving the Axelar-Secret IBC bridge.
Developers clarified that the exploit did not affect the SCRT token or Secret Network’s privacy protocol. However, they argued that maintaining aging infrastructure creates additional security risks. They also noted that advances in artificial intelligence have made legacy smart contract code easier to examine for potential vulnerabilities.
Meanwhile, ARB’s technical indicators pointed to improving market momentum. The Relative Strength Index climbed to 58.87 from weaker levels. Furthermore, the indicator moved above its signal line of 39 while remaining below the overbought threshold of 70. That reading suggested buying pressure strengthened without signaling excessive market conditions.
Source: Tradingview
The Moving Average Convergence Divergence indicator also turned positive. The MACD line advanced to 0.0015, crossing above the signal line at negative 0.0019. Additionally, the histogram remained positive near 0.0033, while expanding green bars indicated stronger upward momentum.
Robinhood Chain’s fee-sharing commitment, rising network activity, and Secret Network’s proposed migration have strengthened Arbitrum’s ecosystem narrative. Together with improving technical indicators, these developments have supported ARB’s recent gains as traders monitor whether the token can sustain momentum above key resistance levels.
Also Read: Shiba Eternity Comeback Nears as SHIB Veteran Teases Major Updates for Ecosystem
The post Arbitrum Gains Momentum as Robinhood Chain Fee Plan and Network Growth Lift ARB appeared first on 36Crypto.
