<h2><strong>關鍵要點</strong></h2>
<h3><em>為什麼 Arbitrum 在短期內下跌？</em></h3>
<p><em>價格下跌是由於過去一個月鏈上活動減少所致。</em></p>
<h3><em>Robinhood 擴展到 ARB 鏈的影響是什麼？</em></h3>
<p><em>ARB 價格和活動可能會激增，特別是在鏈上的 RWA 類別中。</em></p>
<hr/>
<p>隨着 Robinhood 最近的機構參與，Arbitrum [ARB] 正在逐步增長。</p>
<p>以太坊 [ETH] 主網的第二層（L2）區塊鏈在長期內正在增長，但短期前景在鏈上和數字上都滯後。</p>
<h2><strong>長期和短期的情緒混合</strong></h2>
<p>Arbitrum 在 2022 年開始的期間內顯示出鏈上活動的持續增長。DEX 交易量增長了約 7 倍，目前略高於 6470 億美元。</p>
<p>總鎖定價值（TVL）也增長到 81.8 億美元，但在過去一個月的市場疲軟中已下降至 62.3 億美元。</p>
<p>在過去 24 小時內，TVL 增長不到 1%，顯示出小規模上的不一致性。</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>來源：DefiLlama</p>
<p>與此同時，穩定幣供應量上升至 40.5 億美元，過去七天增長了 2.27%。</p>
<p>從每週趨勢來看，Arbitrum 區塊鏈上的活動一直在下降，這有助於解釋其過去一個月的價格表現疲軟。</p>
<p>活躍地址從 102 萬降至 59.6 萬，而交易量從 1460 萬降至 855 萬，過去一週均下降了約 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>來源：DefiLlama</p>
<p>自十月初以來，活動平均下降約 1.5 倍，價格也是如此。</p>
<p>值得注意的是，這種情況有可能發生反轉。這是因為 Robinhood 擴展到 Arbitrum 進行代幣化。</p>
<h2><strong>Robinhood 的擴展：ARB 價格和 TVL 反應</strong></h2>
<p>圖表結構看跌，但仍形成潛在的反轉模式。反轉通常在整合後發生，而當前的下降趨勢通道與此模式完全一致。</p>
<p>每當價格達到通道的需求區時，多頭始終作出反應。目前，空頭未能將價格推回該區域，表明多頭動能在增強。</p>
<p>截至撰寫時，RSI 和 CMF 均低於中性，表明資本外流。然而，看漲的 RSI 背離揭示了潛在的不平衡，暗示可能的向上運動。</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>來源：TradingView</p>
<p>RWA 領域在 Arbitrum 的擴展可能會對市場產生重大影響。Robinhood 宣佈計劃在 L2 鏈上擴展其 800 多種歐洲代幣化股票的產品。</p>
<p>他們的目標是在 2026 年前實現完全的 DeFi 互操作性，而這一日期可能是價格行動和鏈上活動感受到影響的時候。這是因為 Robinhood 帶來了約 2300 萬用户，他們將利用 Arbitrum 訪問這些代幣化股票。</p>
<p>在 Arbitrum 上，代幣化 RWA 的 TVL 為 4.9 億美元，Robinhood 的加入可能會使其增長。ARB 上 RWA 的市值為 10.26 億美元，預計也會隨之增長。</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>來源：Dune</p>
<p>值得注意的是，這種機構參與的影響可能不會立刻顯現，但在長期內將產生影響。目前，整體市場疲軟對活動增加和資產價格構成威脅。</p>

HOOD

<p>Arbitrum 的 RWA 市場達到了 10.2 億美元，但由於鏈上活動減少，ARB 價格停滯不前。Robinhood 擴展到 ARB 鏈可能會推動價格和活動，特別是在 RWA 領域。儘管長期增長前景良好，但短期展望疲軟，活躍地址和交易量均在下降。Robinhood 的參與可能會導致未來價格和活動的增加，但當前市場疲軟帶來了挑戰</p>

<h2><strong>Key Takeaways</strong></h2>
<div class="lb-trans"><h2><strong>關鍵要點</strong></h2>
</div><h3><em>Why is Arbitrum down in the short term?</em></h3>
<div class="lb-trans"><h3><em>為什麼 Arbitrum 在短期內下跌？</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>價格下跌是由於過去一個月鏈上活動減少所致。</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 擴展到 ARB 鏈的影響是什麼？</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 價格和活動可能會激增，特別是在鏈上的 RWA 類別中。</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>隨着 Robinhood 最近的機構參與，Arbitrum [ARB] 正在逐步增長。</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] 主網的第二層（L2）區塊鏈在長期內正在增長，但短期前景在鏈上和數字上都滯後。</p>
</div><h2><strong>Mixed sentiments over the long-term and short-term</strong></h2>
<div class="lb-trans"><h2><strong>長期和短期的情緒混合</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 年開始的期間內顯示出鏈上活動的持續增長。DEX 交易量增長了約 7 倍，目前略高於 6470 億美元。</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>總鎖定價值（TVL）也增長到 81.8 億美元，但在過去一個月的市場疲軟中已下降至 62.3 億美元。</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>在過去 24 小時內，TVL 增長不到 1%，顯示出小規模上的不一致性。</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>來源：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>與此同時，穩定幣供應量上升至 40.5 億美元，過去七天增長了 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>從每週趨勢來看，Arbitrum 區塊鏈上的活動一直在下降，這有助於解釋其過去一個月的價格表現疲軟。</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>活躍地址從 102 萬降至 59.6 萬，而交易量從 1460 萬降至 855 萬，過去一週均下降了約 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>來源：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>自十月初以來，活動平均下降約 1.5 倍，價格也是如此。</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，這種情況有可能發生反轉。這是因為 Robinhood 擴展到 Arbitrum 進行代幣化。</p>
</div><h2><strong>Robinhood’s expansion: ARB price and TVL reaction</strong></h2>
<div class="lb-trans"><h2><strong>Robinhood 的擴展：ARB 價格和 TVL 反應</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>圖表結構看跌，但仍形成潛在的反轉模式。反轉通常在整合後發生，而當前的下降趨勢通道與此模式完全一致。</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>每當價格達到通道的需求區時，多頭始終作出反應。目前，空頭未能將價格推回該區域，表明多頭動能在增強。</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>截至撰寫時，RSI 和 CMF 均低於中性，表明資本外流。然而，看漲的 RSI 背離揭示了潛在的不平衡，暗示可能的向上運動。</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>來源：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 領域在 Arbitrum 的擴展可能會對市場產生重大影響。Robinhood 宣佈計劃在 L2 鏈上擴展其 800 多種歐洲代幣化股票的產品。</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>他們的目標是在 2026 年前實現完全的 DeFi 互操作性，而這一日期可能是價格行動和鏈上活動感受到影響的時候。這是因為 Robinhood 帶來了約 2300 萬用户，他們將利用 Arbitrum 訪問這些代幣化股票。</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，代幣化 RWA 的 TVL 為 4.9 億美元，Robinhood 的加入可能會使其增長。ARB 上 RWA 的市值為 10.26 億美元，預計也會隨之增長。</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>來源：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，這種機構參與的影響可能不會立刻顯現，但在長期內將產生影響。目前，整體市場疲軟對活動增加和資產價格構成威脅。</p>
</div>

Arbitrum 的 RWA 市場達到 10.2 億美元，但 ARB 價格停滯不前——原因如下