Why is Arbitrum price rising today?

The cryptocurrency market has witnessed a notable surge in the price of Arbitrum (ARB), the governance token of the widely used Ethereum layer-2 scaling solution, Arbitrum.Trading at $0.4218, ARB has experienced a remarkable 14.9% today, captivating the attention of traders and investors alike. While the token has since relinquished some of its gains, the sudden spike has sparked curiosity about the driving forces behind this upward movement.The main driving force behind the surge is the listing of ARB on the popular US-based trading platform Robinhood.Arbitrum ($ARB) is now available to trade on Robinhood.7:30 pm · 5 Mar 2025Read 130 repliesRobinhood listing sparks market enthusiasmThe announcement that Robinhood, a well-known US-based retail trading platform, has added Arbitrum to its roster of supported cryptocurrencies has undeniably fueled the price surge.This move places ARB alongside other prominent tokens, such as XRP, Shiba Inu (SHIB), and Bonk (BONK), broadening its accessibility to a vast user base of retail investors.Robinhood’s decision to list ARB reflects the growing mainstream appeal of layer-2 solutions like Arbitrum, which enhance Ethereum’s scalability by processing transactions off-chain while maintaining security and decentralization.The listing likely triggered a wave of buying activity as new investors gained easy access to ARB through a platform renowned for its user-friendly interface and commission-free trading.This development aligns with Robinhood’s broader success in the cryptocurrency space. The company recently reported a staggering 700% year-over-year increase in cryptocurrency revenue, underscoring its growing influence in the digital asset market.Furthermore, the US Securities and Exchange Commission (SEC) dropped its probe into Robinhood’s cryptocurrency unit last month, potentially boosting confidence among users and paving the way for expanded offerings like the ARB listing.For Arbitrum, joining Robinhood’s lineup represents a significant step toward greater adoption and liquidity, which likely contributed to the 14.9% price jump observed earlier today.Arbitrum price outlookDespite the day’s gains, ARB’s performance must be viewed within a broader context of volatility.Over the past two weeks, the token has declined by roughly 10%, and it remains far from its all-time high of $2.39, achieved on January 12, 2024—a drop of approximately 82.4%.Today’s 24-hour trading volume reached $410,734,165, indicating heightened activity likely spurred by the Robinhood news.The price movement also fits into a 24-hour range of $0.3561 to $0.4229, with the day’s low marking an all-time low of $0.3561, recorded just 22 hours prior on March 04, 2025. This rebound from a fresh low suggests that the Robinhood listing may have acted as a catalyst for bargain hunters and momentum traders, driving the price upward.However, the partial retreat from the day’s peak hints at profit-taking or lingering market uncertainty, as ARB continues to navigate a challenging year that has seen its value plummet by 79.9% over the past 12 months.The post Why is Arbitrum price rising today? appeared first on Invezz