The Arbitrum price rose 12.9% on Thursday after Robinhood announced its listing, although ARB is still more than 80%, which is at high levels of all time.
Ethereum’s layer -2 solution, arbitrum (ARB), now Bitcoin (BTC), Ethereum (Eth), Solana (SOL), as well as other altcoins, are available for trading on Robinhoods, to join other altcoins. In an X post on Wednesday, March 5, the US-based online brokerage platform stated that users can trade ARB through their crypto-centered hands called Robinhood Crypto.
After the announcement, the price of the mediator rose 12.98% to $ 0.4258. However, even with the rally, the token remains 82% below its peak of $ 2.26, which it reached according to Crypto in January 2024, according to the price data.
In late January, Crypto.news suggested that the arbitrum tokens could be on the verge of a strong rapid breakout as the token volume on the chain suddenly jumped up to 118%, cementing its best week in months. Another positive catalyst is that the mediator formed a falling wedge pattern, which is made up of two fall and changing trendline. These two lines are near their confluence level, indicating a potential rebound that can increase the price of mediation to $ 1.2470.
Meanwhile, on-chant data from Artemis Suggestion of Compared to last week, traders recently earned news, the daily transactions climbed from 25% to 2.8 million. The top three most active addresses appear to be associated with the smart contracts of Titer and Circle, which increase stabelcoins conversions, indicating the will of traders to take advantage of the price movement.
What is arb
Established in 2016 by Steven Goldfeder, Harry Kalodner, and Joshua Goldfeder, Arbitrum is a layer -2 blockchain designed to help the atherium handle more transactions at low cost. It addresses high fees and crowds of the atherium by closing some processing and data storage from the main ethrium network.
Since the smart contract execution of the atherium requires nodes to process every step, the cost of transactions can quickly add. By handling this task off-chain, the purpose of the mediator is to reduce the crowd, offer low fees and improve overall efficiency.
