Arbitrum Jumps 19% as Robinhood Chain Surpasses $568 Million in Daily Volume

Robinhood’s new blockchain posted explosive trading activity in its first week, driving a sharp rally in Arbitrum’s token, the network that underpins the chain.

CoinDesk reported on July 9 that Arbitrum’s native token, ARB, climbed 19% in the past 24 hours, the biggest gain among the top 100 cryptocurrencies by market value. Bitcoin rose 1.5% to retake the $63,000 level, while Ether added 0.5%.

Data from blockchain analytics firm Entropy Advisors showed that Robinhood Chain, built on the Arbitrum technology stack, handled $568 million in trading volume in a single day. It also processed more than $350 million the day after launch. Stablecoin balances topped $260 million in the first week. Most of the trading activity came from memecoins.

The surge directly boosts Arbitrum’s revenue. Under an agreement between the two parties, 10% of Robinhood Chain’s net protocol revenue goes to the Arbitrum ecosystem, split between the DAO treasury and a developer guild.

Brendan Ma, head of investment strategy at the Arbitrum Foundation, wrote on X that, based on one day of activity, Robinhood Chain is already running at a pace of more than $12.5 million in annual revenue. Activity tied to tokenized real-world assets has not yet begun in earnest, he added.

FalconX said in April that Robinhood Chain would generate about $1.1 million in transaction fees during its first six months after launch, but the chain’s early performance has already far exceeded that forecast. The firm projected annual fee revenue could reach $60 million by 2030 if users broaden their activity from tokenized stocks to a wider range of on-chain services, including decentralized finance.

Robinhood unveiled Robinhood Chain at a London event last week, saying it would expand access to tokenized US stocks to customers in more than 120 countries. The company also said it would introduce DeFi-based savings products using lending protocol Morpho. Robinhood further outlined plans to expand its crypto business into AI-based trading and additional asset classes.