After staying under the radar for weeks, Arbitrum (ARB) has suddenly come back to life, surging more than 20% in the last 24 hours and claiming the top spot on CoinMarketCap’s daily gainers list.
The rally doesn’t stop there; ARB is now up nearly 40% over the past week, currently trading around $0.3690. Its market cap has bounced back above $1.83 billion, while daily trading volume has skyrocketed to over $702 million, a staggering 528% increase in just a day.
What triggered this sudden rally? The crypto crowd is pointing fingers at Robinhood. A teaser from Robinhood’s official X account mentioned an upcoming discussion in Cannes featuring Robinhood Crypto’s General Manager Johann Kerbrat, Offchain Labs’ A.J. Warner, and none other than Ethereum co-founder Vitalik Buterin.Â
That was enough to fuel speculation that Robinhood might be planning something big with Arbitrum, possibly using it for a European crypto expansion.
Though nothing is confirmed yet, the market clearly reacted. ARB started gaining momentum shortly after the teaser went live, and traders quickly piled in. On-chain activity has also picked up.Â
The number of new and active wallet addresses on Arbitrum has jumped by roughly 40% over the past week. That’s important, especially with a major token unlock coming up soon. Initially, many expected the unlock to trigger selling pressure, but this kind of demand could easily absorb it.
Technically, ARB has broken out of a months-long downtrend. If the current support near $0.36 holds, the next resistance levels to watch are $0.42 and $0.48. A confirmed partnership could even push it towards the $0.50 mark and beyond.
But if the buzz dies down and there’s no official word from Robinhood, traders might start booking profits just as fast as they jumped in.
For now, ARB is back on everyone’s radar, and the coming days could decide whether this rally has legs or was just a quick rumor-fueled spike.
Also Read: Weekly Wrap: Bitcoin Rises After $98K Dip, SEI Price Pumps 80%, Ethereum to Slash 50% Block Time
