- ARB jumped 7.6% as Robinhood Chain directed 10% of fees to the Arbitrum network.
- Robinhood Chain DEX volume topped $560M as active users and token launches reached records.
- RSI and MACD turned bullish as ARB recovered while traders watched key resistance levels.
Arbitrum moved back into focus after ARB posted a daily rebound alongside growing activity surrounding Robinhood Chain. The renewed attention followed reports that Robinhood Chain will direct 10% of its chain fees to the Arbitrum network. Meanwhile, Robinhood Chain posted record levels of decentralized exchange activity, while Secret Network proposed migrating from Cosmos to Arbitrum, citing security concerns following a recent bridge exploit.
Robinhood Chain Developments Support Network Activity
CoinGecko reported that ARB gained 7.6% after news that Robinhood Chain plans to allocate 10% of chain fees to the Arbitrum ecosystem. Separately, Arbitrum described the relationship by stating that Ethereum secures the network, Arbitrum powers Robinhood Chain, and Robinhood brings millions of users on-chain.
Additional network data showed Robinhood Chain’s decentralized exchange volume exceeded $560 million on July 8, marking a new daily record. The network also approached 200,000 daily active addresses, including more than 140,000 first-time active wallets.
Activity extended beyond trading. Nearly 16,000 new tokens were launched in a single day, while seven meme coins surpassed $1 million in market capitalization. Among them, Cash Cat exceeded a $100 million market value.
Meanwhile, Secret Network published a proposal to leave the Cosmos ecosystem and migrate to Arbitrum. The team said the decision was primarily driven by security considerations following a $4.7 million exploit involving the Axelar-Secret IBC bridge.
According to the proposal, the incident did not affect the SCRT token or the network’s privacy protocol, but it pointed out the risks associated with maintaining older infrastructure. The developers also stated that advances in artificial intelligence have made legacy smart contract code easier to analyze for potential vulnerabilities.
Technical Indicators Show Rising Momentum
The Relative Strength Index (RSI) rose to 58.87 from weaker levels, moving above its signal line of 39.00 while remaining below the overbought threshold of 70.
The Moving Average Convergence Divergence (MACD) also turned bullish. The MACD line climbed to 0.0015, above the signal line at -0.0019, confirming a bullish crossover. Meanwhile, the histogram remained positive at around 0.0033, with expanding green bars signaling strengthening upward momentum. Together, the RSI and MACD signals suggest bullish momentum is building, although confirmation will depend on whether ARB can sustain its recent gains above key resistance levels.
Related: Robinhood Chain Can Support RWAs and Memecoins, Says CEO Tenev
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