ARB Price Rises 9% Following Robinhood’s US Stocks Launch on Arbitrum
On July 2, ARB price increased by 9% to $0.35 following Robinhood's launch of US stock trading on the Arbitrum Layer-2 network. This development, coupled with positive market sentiment from US President Donald Trump's ceasefire announcement, contributed to the surge.
Key Points
- ARB rallied to $0.35, marking its first daily gain of the week.
- Robinhood’s announcement facilitates trading of real-world equities on a decentralized platform.
- The Layer-2 sector overall saw gains, with Polygon, Mantle, and ARB each rising over 8%.
- The Layer-2 market cap reached $11.9 billion, adding over $1 billion in 24 hours.
- Trump's announcement of a trade deal with Vietnam and a ceasefire between Israel and Palestine boosted crypto market sentiment.
- Bitcoin rose above $110,000, increasing risk appetite for mid-cap altcoins like Arbitrum.
- Technical analysis indicates a potential bullish breakout for ARB with a target near $0.76.
- Current RSI at 55.26 suggests growing bullish momentum without reaching overbought levels.
- Support is at $0.30; failure to hold may lead to a drop toward $0.25.
Additionally, interest is shifting towards Snorter, a Solana-based meme trading protocol currently in presale, which has raised over $1.3 million.