Arbitrum token rises 44% amid record Robinhood Chain fees

The native token of the Arbitrum Layer 2 blockchain, ARB, has seen a significant price increase, rising approximately 44% over one week to reach around $0.13 as of September 3. This surge coincides with a rise in market capitalization to roughly $860 million and a substantial increase in 24-hour trading volume.

A primary driver for this growth is the record-breaking fee revenue generated by the Robinhood Chain, which utilizes Arbitrum technology. On September 1, the Robinhood Chain recorded $3.75 million in fee revenue, surpassing both the Ethereum mainnet and the Base Layer 2 network. On that same day, decentralized exchange (DEX) trading volume also reached a record high of over $1.5 billion.

Under the Arbitrum Expansion Program, external chains using its technology contribute 10% of their fee revenue back to the Arbitrum ecosystem. Of this amount, 8% is allocated to the Arbitrum DAO treasury, while the remaining 2% is directed toward a fund for developers.