Digital broker Robinhood’s new blockchain is off to a fast start, and the benefits are flowing to Ethereum layer-2 network Arbitrum. Arbitrum’s native token (ARB) jumped 19% on Wednesday, Jul
Digital broker Robinhood’s new blockchain is off to a fast start, and the benefits are flowing to Ethereum layer-2 network Arbitrum. Arbitrum’s native token (ARB) jumped 19% on Wednesday, July 9, making it the best-performing asset in the top 100 cryptocurrencies, according to CoinDesk data, as Robinhood Chain logged a surge of onchain trading activity.
Robinhood Chain, built on Arbitrum’s technology stack and opened to the public just one week ago, processed over $568 million in daily trading volume on Wednesday and logged more than $350 million on Thursday alone, according to blockchain data from Entropy Advisors. Much of that activity was fuelled by a burst of memecoin trading, while stablecoin balances on the network climbed rapidly above $260 million within its first week.
