The new Robinhood network continues to gain momentum rapidly, and one of the main beneficiaries of this growth has been Arbitrum.
In the past 24 hours, the Arbitrum (ARB) token rose by 19%, showing the best result among the top 100 cryptocurrencies by market capitalization. For comparison, Bitcoin added about 1.5% and climbed above $63,000, while Ethereum grew by only about 0.5%.
The ARB growth coincided with a sharp increase in activity on the Robinhood Chain, which is built on the Arbitrum technology stack and became available to the wider public just a week ago. According to Entropy Advisors, on Wednesday, daily trading volume on the network exceeded $568 million, and by Thursday it had already surpassed $350 million.
Most of this activity was driven by memecoins. At the same time, stablecoin volumes on the network grew rapidly: less than a week after launch, their combined balance exceeded $260 million.
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The growing popularity of Robinhood Chain is also benefiting the Arbitrum ecosystem itself. Under the terms of the partnership, 10% of the net revenue from the Robinhood Chain protocol is sent back to the Arbitrum ecosystem. These funds are distributed between the Arbitrum DAO treasury and the Developer Guild, which is responsible for network development.
Robinhood Bets on the Crypto Market
At a presentation in London last week, Robinhood introduced the new network as a central part of its updated crypto strategy. At the same time, the company announced expanded access to tokenized shares of U.S. companies for users in more than 120 countries, launched a DeFi savings service based on the Morpho lending protocol, and shared plans to develop AI-powered trading as well as add new classes of digital assets.
The initial results have exceeded expectations. Back in April, analysts at FalconX predicted that Robinhood Chain could earn about $1.1 million in fees in its first six months of operation.
However, current activity is already significantly ahead of these forecasts. According to Brendan Ma, Head of Investment Strategy at the Arbitrum Foundation, if you look only at trading volumes over the past day, the network is already on pace for more than $12.5 million in annual revenue. He also noted that the main flow of transactions with tokenized real-world assets (RWA) has not even started yet.
Although the memecoin frenzy may subside over time, on-chain activity itself could become a new source of stable income for Robinhood . FalconX expects that as users shift from tokenized stocks to DeFi services and other blockchain applications, the company's annual transaction fee revenue could grow to $60 million by 2030.
