bitcoin
Bitcoin (BITCOIN)
$107,606 0.18%
ethereum
Ethereum (ETHEREUM)
$2,511 3.00%
binancecoin
BNB (BINANCECOIN)
$658.85 1.56%
solana
Solana (SOLANA)
$157.53 4.15%
ripple
XRP (RIPPLE)
$2.31 5.63%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000012 0.19%
pepe
Pepe (PEPE)
$0.000010 2.55%
bonk
Bonk (BONK)
$0.000015 1.76%
bitcoin
Bitcoin (BITCOIN)
$107,606 0.18%
ethereum
Ethereum (ETHEREUM)
$2,511 3.00%
binancecoin
BNB (BINANCECOIN)
$658.85 1.56%
solana
Solana (SOLANA)
$157.53 4.15%
ripple
XRP (RIPPLE)
$2.31 5.63%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000012 0.19%
pepe
Pepe (PEPE)
$0.000010 2.55%
bonk
Bonk (BONK)
$0.000015 1.76%
bitcoin
Bitcoin (BITCOIN)
$107,606 0.18%
ethereum
Ethereum (ETHEREUM)
$2,511 3.00%
binancecoin
BNB (BINANCECOIN)
$658.85 1.56%
solana
Solana (SOLANA)
$157.53 4.15%
ripple
XRP (RIPPLE)
$2.31 5.63%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000012 0.19%
pepe
Pepe (PEPE)
$0.000010 2.55%
bonk
Bonk (BONK)
$0.000015 1.76%
Disclosure
Cryptocurrency trading is speculative and your capital is at risk when you trade. We may earn affiliate commissions from some of the products on this page - at no extra cost to you.
Arbitrum Price Prediction – Why ARB Could Soon Rally $1

Highlights:

  • Arbitrum is outperforming most top altcoins intraday 
  • Robinhood news driving Arbitrum momentum
  • If the Robinhood rumour turns out to be true, Arbitrum could rally to $1

Arbitrum (ARB) has been one of the top-performing cryptocurrencies in the last 24 hours. In this period, Arbitrum has gained 20% to hit a high of $0.365. Trading volumes are also on the rise, up 590.64% to hit $760 million. Arbitrum’s surging trading volumes indicate that FOMO is building up, and investors expect the price to keep going up in the short to medium term. 

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Robinhood Likely to Use Arbitrum In Tokenisation Drive

The rising excitement around Arbitrum has much to do with news that Arbitrum could soon be adopted by Robinhood. Robinhood has announced that it will go on-chain and is looking into asset tokenization in Europe. Attendees have spurred the speculation to a fireside chat in Cannes this week. Among the attendants will be people from Robinhood and Arbitrum’s developer team. Investors are excited that if Arbitrum is the chosen network, it could uplift the network’s profile by a big deal, given that Robinhood is a big name in finance.

Arbitrum Use Case In Asset Tokenization Getting Stronger

This is not the first time that Robinhood has got involved in the asset tokenization space. Gemini exchange recently leveraged the Arbitrum infrastructure to tokenize US shares. Through this partnership, Gemini users now have access to tokenized versions of stocks in real time. This means Arbitrum is increasingly an essential part of the fast-growing RWA space.

Arbitrum Is One of The Top Ethereum L2s

However, it is not just its increasing adoption in asset tokenization that is driving Arbitrum momentum. It has also carved out a niche as one of the top L2s in the Ethereum ecosystem. More than 1200 Dapps now run on the Arbitrum network with a total value locked of more than $12 billion. While the competition in the L2 space is stiff, its integration with top DeFi platforms means it will likely stay at the forefront going into the foreseeable future. This strength in adoption could see it grow in value as the broader cryptocurrency market expands.

One of the hints that Arbitrum remains the network of choice for launching products is that many new products looking to use the Ethereum blockchain choose Arbitrum. It is fast and cost-effective while still giving users the security that comes with the Ethereum network. 

Arbitrum Set to Benefit as Capital Rotates Into Altcoins

Besides the growing adoption, Arbitrum benefits from the increasing capital rotation into altcoins. Bitcoin dominance has peaked, meaning the only way it can go from here is down. The result is that altcoins that have shown strong potential so far could be headed for big rallies going into the future.

Arbitrum is one of the top altcoins that has shown strong potential. As such, it will likely continue drawing in significant capital relative to the average altcoin. The result is that the ongoing Arbitrum rally could only be the beginning. Even bigger moves could be coming up once the parabolic price moves across altcoins start.

Technical Analysis – Arbitrum Price Still In Consolidation Despite Intraday Pump

Arbitrum has pumped intraday. However, from the weekly charts, Arbitrum is still consolidating between the $0.445 resistance and $0.263 support. If bulls take control and push Arbitrum through the $0.445 resistance, a rally to $1 could follow in the short term.

ARB Price
Source: TradingView

However, if the ongoing momentum fizzles out and bears gain control, the key level to watch would be the $0.263 support. A drop below $0.263 could see Arbitrum drop to prices below $0.20 in the short term.

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