Robinhood Listed Arbitrum – ARB Price Up by 12% Today

Key Points

• Robinhood listed Arbitrum (ARB) triggering a price spike for the asset.
• Earlier today, Arbitrum announced that USDC deposits are live.

Today, March 5, Robinhood listed Arbitrum (ARB), triggering a price surge for the coin. This comes following some important recent announcements made by the team behind Arbitrum.

ARB Price Spiked Following the Listing Announcement

At the moment of writing this article, ARB is trading above $0.41, with a market cap of over $1,83 billion. The Robinhood listing announcement triggered a price spike for ARB of around 4% and sent its price to over $1.42 earlier.

ARB’s price spiked following the listing announcement and its market cap reached over $1.87 billion, before cooling down to current levels.

Currently, ARB is up by over 12% for the day.

Robinhood was recently in the spotlight after the team announced that the US SEC had dropped its investigation into its crypto operations.

The team at Arbitrum recently made some important announcements via X.

Other ARB Price Catalysts

Earlier today, Arbitrum announced that USDC deposits are live on the network via Based App. The app allows spending crypto like fiat with the BasedApp Visa card, facilitating adoption.

Also, on March 4, Arbitrum announced that USDS went live on Arbitrum via the Sky ecosystem, allowing users to get rewarded for non-custodial savings. USDS is the decentralized stablecoin of the Sky Protocol, formerly known as Maker, playing an important role in the ecosystem and allowing users to engage in DeFi.

It’s also worth noting that yesterday, Arbitrum also announced the upcoming project elections, highlighting that the Security Council and its elections are an integral part of protecting the interest of the Arbitrum community.

Six months have passed since the last elections and new ones are set to take place this month, according to the official notes.

Arbitrum (ARB) is an L2 scaling solution that uses optimistic rollups to achieve its goal of improving speed, scalability, and cost-efficiency on Ethereum.

Earlier today, the Ethereum Pectra upgrade went live on Sepolia testnet.