Arbitrum Gains Amid Robinhood Partnership Speculation
The Arbitrum token gained 17% amid speculation of a partnership announcement with Robinhood Markets Inc. A fireside chat featuring Ethereum co-founder Vitalik Buterin and Robinhood executives is scheduled for Monday at a Robinhood Europe event in Cannes, France. This event is promoted as revealing significant crypto announcements. Previous reports indicated Robinhood was developing a blockchain platform for European investors, considering Arbitrum and Solana for the partnership. The ARB token rose from approximately 31 cents to an intraday high of 38.6 cents, making it the largest gainer in the crypto market over 24 hours. Despite this increase, ARB remains down nearly 50% for the year and has lost 85% since its peak of $2.39 in January 2024. Robinhood shares also rose about 1.65% in overnight trading, reflecting positive trader sentiment regarding the anticipated announcements.
