Arbitrum Price Rally 14% as Robinhood Listing Fuels Market Optimism

Arbitrum (ARB) price received a major boost after the asset got listed on Robinhood, one of the top American trading platforms. The message sparked a lot of interest among investors and caused ARB price rally from $0.3644 to $0.4181. This comes at a time when Robinhood is adding more cryptocurrencies to its list as they actively seek to grow their services.

Arbitrum Price Jumps 14% After Robinhood Listing

Recently, the American trading firm, Robinhood, included Arbitrum (ARB) in the list of the traded cryptocurrencies which caused a spike in the price. This token based on the Ethereum layer-2 network rose by 14%, from $0.3644 to $0.4181 in a few hours.

Alongside Arbitrum price increase, trading volume rallied by 8, reaching $400 million. Market activity intensified as traders responded to the listing, which boosted ARB accessibility and liquidity. Despite this rise, ARB remains down 80% from its 2024 peak of $2.41.

Notably, Robinhood has been expanding its crypto exposure, most recently through a partnership with CME Group. This collaboration allows US retail traders to access a variety of futures contracts, including those for Bitcoin and Ether, directly on Robinhood’s platform.

Robinhood Expands Crypto Offerings

Robinhood has been adding more cryptocurrencies because of rising customer interest. It has expanded the range to attract more traders and include the new digital assets such as Arbitrum, XRP, SHIB, and BONK.

In the fourth quarter of the year, the company has seen a 700% year-over-year growth in its crypto revenue to $ 358 million. This increase correlates with Robinhood’s efforts to expand its crypto market share.

Also, the roll-out of Ethereum staking in the European Union and the addition of new digital assets show the dedication of platform to expand its services. More so, it shows their intent on developing as a business in a rapidly evolving crypto market.

US SEC Closes Investigation

Despite Arbitrum price boost, Robinhood recently came under regulatory attention from the US SEC on its crypto operations. Nonetheless, the SEC recently concluded its investigation, which offered a legal boost to the company’s position on digital asset listings.

This decision takes the uncertainty out of it for Robinhood’s cryptocurrency division, enabling it to continue listing new tokens. With this regulatory hurdle out of the way, Robinhood is expected to add more digital assets.

Furthermore, the American trading company established itself in the European market, offering crypto services in Spain, compliant with the MiCA legislation.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.