Ethereum · CoinDesk
Arbitrum's token, ARB, has risen more than 30% over the past 24 hours to around 11 cents
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
★ Tier-1 Source
The move followed a ramp-up in activity on Robinhood Chain, the Ethereum layer-2 introduced on July 1 by trading platform Robinhood HOOD $ 103.51 · At close.
Key facts
- The DAO (decentralized autonomous organization) that runs Arbitrum received $175,612 over the past 24 hours, $363,153 over seven days and $531,641 over 30 days, according to DefiLlama
- Under the Arbitrum Expansion Program, chains built with the Arbitrum stack that settle to a parent chain other than Arbitrum One or Nova pay 10% of chain profit, with 8% to the ArbitrumDAO treasury
- The move followed a ramp-up in activity on Robinhood Chain, the Ethereum layer-2 introduced on July 1 by trading platform Robinhood HOOD $ 103.51
- At close
- Robinhood Chain generated $1.92 million in revenue over the past 24 hours, according to DefiLlama, the most of any blockchain
Summary
Robinhood's Ethereum-based network pulled in $1.92 million in 24-hour revenue, outpacing all other blockchains and triggering a 30% price jump for Arbitrum's ARB token. Under their technology agreement, 10% of Robinhood Chain's net profits stream back to the Arbitrum ecosystem, resulting in a daily payout of over $175,000 to the Arbitrum Foundation during the peak. While the ARB token market cap expanded by $170 million, the incoming network revenue goes to the treasury rather than to token holders, meaning traders are largely chasing correlated momentum. Arbitrum's token, ARB, has risen more than 30% over the past 24 hours to around 11 cents, breaking out of the 7-10 cent range that had contained it since June.