<h2><strong>关键要点</strong></h2>
<h3><em>为什么 Arbitrum 在短期内下跌？</em></h3>
<p><em>价格下跌是由于过去一个月链上活动减少所致。</em></p>
<h3><em>Robinhood 扩展到 ARB 链的影响是什么？</em></h3>
<p><em>ARB 价格和活动可能会激增，特别是在链上的 RWA 类别中。</em></p>
<hr/>
<p>随着 Robinhood 最近的机构参与，Arbitrum [ARB] 正在逐步增长。</p>
<p>以太坊 [ETH] 主网的第二层（L2）区块链在长期内正在增长，但短期前景在链上和数字上都滞后。</p>
<h2><strong>长期和短期的情绪混合</strong></h2>
<p>Arbitrum 在 2022 年开始的期间内显示出链上活动的持续增长。DEX 交易量增长了约 7 倍，目前略高于 6470 亿美元。</p>
<p>总锁定价值（TVL）也增长到 81.8 亿美元，但在过去一个月的市场疲软中已下降至 62.3 亿美元。</p>
<p>在过去 24 小时内，TVL 增长不到 1%，显示出小规模上的不一致性。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/Screenshot-2025-11-19-110459.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/Screenshot-2025-11-19-110459.png"/></p>
<p>来源：DefiLlama</p>
<p>与此同时，稳定币供应量上升至 40.5 亿美元，过去七天增长了 2.27%。</p>
<p>从每周趋势来看，Arbitrum 区块链上的活动一直在下降，这有助于解释其过去一个月的价格表现疲软。</p>
<p>活跃地址从 102 万降至 59.6 万，而交易量从 1460 万降至 855 万，过去一周均下降了约 1.5 倍。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/Screenshot-2025-11-19-110119.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/Screenshot-2025-11-19-110119.png"/></p>
<p>来源：DefiLlama</p>
<p>自十月初以来，活动平均下降约 1.5 倍，价格也是如此。</p>
<p>值得注意的是，这种情况有可能发生反转。这是因为 Robinhood 扩展到 Arbitrum 进行代币化。</p>
<h2><strong>Robinhood 的扩展：ARB 价格和 TVL 反应</strong></h2>
<p>图表结构看跌，但仍形成潜在的反转模式。反转通常在整合后发生，而当前的下降趋势通道与此模式完全一致。</p>
<p>每当价格达到通道的需求区时，多头始终作出反应。目前，空头未能将价格推回该区域，表明多头动能在增强。</p>
<p>截至撰写时，RSI 和 CMF 均低于中性，表明资本外流。然而，看涨的 RSI 背离揭示了潜在的不平衡，暗示可能的向上运动。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/ARBUSDT_2025-11-19_11-16-28.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/ARBUSDT_2025-11-19_11-16-28.png"/></p>
<p>来源：TradingView</p>
<p>RWA 领域在 Arbitrum 的扩展可能会对市场产生重大影响。Robinhood 宣布计划在 L2 链上扩展其 800 多种欧洲代币化股票的产品。</p>
<p>他们的目标是在 2026 年前实现完全的 DeFi 互操作性，而这一日期可能是价格行动和链上活动感受到影响的时候。这是因为 Robinhood 带来了约 2300 万用户，他们将利用 Arbitrum 访问这些代币化股票。</p>
<p>在 Arbitrum 上，代币化 RWA 的 TVL 为 4.9 亿美元，Robinhood 的加入可能会使其增长。ARB 上 RWA 的市值为 10.26 亿美元，预计也会随之增长。</p>
<p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/Screenshot-2025-11-19-112919.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/Screenshot-2025-11-19-112919.png"/></p>
<p>来源：Dune</p>
<p>值得注意的是，这种机构参与的影响可能不会立刻显现，但在长期内将产生影响。目前，整体市场疲软对活动增加和资产价格构成威胁。</p>

HOOD

<p>Arbitrum 的 RWA 市场达到了 10.2 亿美元，但由于链上活动减少，ARB 价格停滞不前。Robinhood 扩展到 ARB 链可能会推动价格和活动，特别是在 RWA 领域。尽管长期增长前景良好，但短期展望疲软，活跃地址和交易量均在下降。Robinhood 的参与可能会导致未来价格和活动的增加，但当前市场疲软带来了挑战</p>

<h2><strong>Key Takeaways</strong></h2>
<div class="lb-trans"><h2><strong>关键要点</strong></h2>
</div><h3><em>Why is Arbitrum down in the short term?</em></h3>
<div class="lb-trans"><h3><em>为什么 Arbitrum 在短期内下跌？</em></h3>
</div><p><em>Price was down due to decreased on-chain activity over the last month.</em></p>
<div class="lb-trans"><p><em>价格下跌是由于过去一个月链上活动减少所致。</em></p>
</div><h3><em>What’s the impact of Robinhood’s expansion to the ARB chain?</em></h3>
<div class="lb-trans"><h3><em>Robinhood 扩展到 ARB 链的影响是什么？</em></h3>
</div><p><em>ARB prices and activity could surge, especially in the RWA category of the chain.</em></p>
<div class="lb-trans"><p><em>ARB 价格和活动可能会激增，特别是在链上的 RWA 类别中。</em></p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><p>With Robinhood’s recent institutional involvement, Arbitrum [ARB] is progressively growing.</p>
<div class="lb-trans"><p>随着 Robinhood 最近的机构参与，Arbitrum [ARB] 正在逐步增长。</p>
</div><p>The Layer 2 (L2) blockchain on the Ethereum [ETH] mainnet is seeing growth over the long term, but the short-term outlook is lagging both on-chain and numerically.</p>
<div class="lb-trans"><p>以太坊 [ETH] 主网的第二层（L2）区块链在长期内正在增长，但短期前景在链上和数字上都滞后。</p>
</div><h2><strong>Mixed sentiments over the long-term and short-term</strong></h2>
<div class="lb-trans"><h2><strong>长期和短期的情绪混合</strong></h2>
</div><p>Arbitrum showed consistent growth in on-chain activity over the period starting in 2022. The DEX volume grew by about 7X and was slightly above $647 billion, at press time.</p>
<div class="lb-trans"><p>Arbitrum 在 2022 年开始的期间内显示出链上活动的持续增长。DEX 交易量增长了约 7 倍，目前略高于 6470 亿美元。</p>
</div><p>The Total Value Locked (TVL) had also grown to $8.18 billion, but has since declined to $6.23 billion over the past month of market weakness.</p>
<div class="lb-trans"><p>总锁定价值（TVL）也增长到 81.8 亿美元，但在过去一个月的市场疲软中已下降至 62.3 亿美元。</p>
</div><p>In the past 24 hours, TVL had grown by less than a percent, indicating inconsistencies in the smaller scales.</p>
<div class="lb-trans"><p>在过去 24 小时内，TVL 增长不到 1%，显示出小规模上的不一致性。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/Screenshot-2025-11-19-110459.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/11/Screenshot-2025-11-19-110459.png"/></p>
<p>Source: DefiLlama</p>
<div class="lb-trans"><p>来源：DefiLlama</p>
</div><p>Meanwhile, stablecoin supply rose to $4.05 billion, marking a 2.27% increase over the past seven days.</p>
<div class="lb-trans"><p>与此同时，稳定币供应量上升至 40.5 亿美元，过去七天增长了 2.27%。</p>
</div><p>Zooming in on weekly trends, activity on the Arbitrum blockchain has been declining, which helps explain its sluggish price performance over the past month.</p>
<div class="lb-trans"><p>从每周趋势来看，Arbitrum 区块链上的活动一直在下降，这有助于解释其过去一个月的价格表现疲软。</p>
</div><p>Active addresses fell from 1.02 million to 596,000, while transaction volume dropped from 14.6 million to 8.55 million, both down by roughly 1.5x in the past week.</p>
<div class="lb-trans"><p>活跃地址从 102 万降至 59.6 万，而交易量从 1460 万降至 855 万，过去一周均下降了约 1.5 倍。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/Screenshot-2025-11-19-110119.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/11/Screenshot-2025-11-19-110119.png"/></p>
<p>Source: DefiLlama</p>
<div class="lb-trans"><p>来源：DefiLlama</p>
</div><p>The activity has been declining on average by about 1.5X since the beginning of October, and so has the price.</p>
<div class="lb-trans"><p>自十月初以来，活动平均下降约 1.5 倍，价格也是如此。</p>
</div><p>Worth noting is the potential for this to flip. This follows a Robinhood expansion to Arbitrum for tokenization.</p>
<div class="lb-trans"><p>值得注意的是，这种情况有可能发生反转。这是因为 Robinhood 扩展到 Arbitrum 进行代币化。</p>
</div><h2><strong>Robinhood’s expansion: ARB price and TVL reaction</strong></h2>
<div class="lb-trans"><h2><strong>Robinhood 的扩展：ARB 价格和 TVL 反应</strong></h2>
</div><p>The charts were bearish in structure, but still forming a potential reversal pattern. Reversals typically transpire following consolidation, and the current descending trend channel aligns perfectly with this pattern.</p>
<div class="lb-trans"><p>图表结构看跌，但仍形成潜在的反转模式。反转通常在整合后发生，而当前的下降趋势通道与此模式完全一致。</p>
</div><p>Bulls have consistently responded whenever the price reached the channel’s demand zone. Currently, bears have been unable to push the price back to that zone, signaling strengthening bullish momentum.</p>
<div class="lb-trans"><p>每当价格达到通道的需求区时，多头始终作出反应。目前，空头未能将价格推回该区域，表明多头动能在增强。</p>
</div><p>Both the RSI and CMF were below neutral, as of writing, suggesting capital outflows. However, a bullish RSI divergence reveals an underlying imbalance, hinting at potential upward movement.</p>
<div class="lb-trans"><p>截至撰写时，RSI 和 CMF 均低于中性，表明资本外流。然而，看涨的 RSI 背离揭示了潜在的不平衡，暗示可能的向上运动。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/ARBUSDT_2025-11-19_11-16-28.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/11/ARBUSDT_2025-11-19_11-16-28.png"/></p>
<p>Source: TradingView</p>
<div class="lb-trans"><p>来源：TradingView</p>
</div><p>The expansion of the RWA sector on Arbitrum has the potential to significantly impact the market. Robinhood announced plans to expand its 800+ European tokenized stock offerings on the L2 chain.</p>
<div class="lb-trans"><p>RWA 领域在 Arbitrum 的扩展可能会对市场产生重大影响。Robinhood 宣布计划在 L2 链上扩展其 800 多种欧洲代币化股票的产品。</p>
</div><p>They aimed for full DeFi interoperability by 2026, and the date could be when the impact is felt in price action and on-chain activity. This is because Robinhood brings in about 23 million users who would be leveraging Arbitrum to access these tokenized stocks.</p>
<div class="lb-trans"><p>他们的目标是在 2026 年前实现完全的 DeFi 互操作性，而这一日期可能是价格行动和链上活动感受到影响的时候。这是因为 Robinhood 带来了约 2300 万用户，他们将利用 Arbitrum 访问这些代币化股票。</p>
</div><p>The TVL of tokenized RWAs on Arbitrum, which stood at $490 million, could also grow after this Robinhood onboarding. The market cap of RWAs on ARB, which is at $1.026 billion, is expected to follow suit.</p>
<div class="lb-trans"><p>在 Arbitrum 上，代币化 RWA 的 TVL 为 4.9 亿美元，Robinhood 的加入可能会使其增长。ARB 上 RWA 的市值为 10.26 亿美元，预计也会随之增长。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://ambcrypto.com/wp-content/uploads/2025/11/Screenshot-2025-11-19-112919.png" alt="" original-src="https://ambcrypto.com/wp-content/uploads/2025/11/Screenshot-2025-11-19-112919.png"/></p>
<p>Source: Dune</p>
<div class="lb-trans"><p>来源：Dune</p>
</div><p>Notably, the impact of this institutional involvement may not be instant but will be impactful in the long run. Currently, the general market weakness poses a threat to increased activity and the price of assets.</p>
<div class="lb-trans"><p>值得注意的是，这种机构参与的影响可能不会立刻显现，但在长期内将产生影响。目前，整体市场疲软对活动增加和资产价格构成威胁。</p>
</div>

Arbitrum 的 RWA 市场达到 10.2 亿美元，但 ARB 价格停滞不前——原因如下