ARB has erased early 18% gain and retreated to a crucial $0.3 support.
- Arbitrum has stacked 22K ETH, becoming the only L2 competing with other treasury firms. ARB token erased 18% gains after the Robinhood update.
Arbitrum [ARB] has joined top institutions that are actively accumulating Ethereum [ETH] as part of their reserve diversification. It now holds 22,009 ETH and leads the L2 ecosystem.
Staking platform Lido [LDO] and lending protocol Aave [AAVE] also featured on the top 20 holders.
Source: Strategic ETH Reserve
Commenting on the same, Tom Wan, Head of Data at Entropy Advisors, said Arbitrum is the ‘most ETH-aligned L2.’
Here, it’s worth noting that L2s have been criticized for extracting value from Ethereum L1 without boosting it. Hence, Arbitrum stacking ETH is noteworthy in discrediting such criticism.
Robinhood boost Arbitrum
Arbitrum has grabbed headlines recently, especially being selected as a temporary settlement layer for Robinhood’s on-chain stocks.
The retail trading platform’s tokenized U.S. equities are accessible to E.U. users, powered by Arbitrum. According to Coinbase, the tokenized U.S. stocks brought new users to the L2.
“New wallets are climbing while transaction counts remain high—likely pointing to fresh retail participation alongside existing high-frequency flow.”
Source: Coinbase
The attached chart shows that the daily active address (blue) recovered from 800K to over 1 million.
At the same time, the value of the transaction count remained nearly the same, underscoring that large players still dominated the L2.
Additionally, Arbitrum has dominated stablecoin balance and monthly inflows, underscoring network usage. In the past month, Ethereum saw $9.7 billion inflows, followed by Arbitrum’s $1.5 billion.
Source: Artemis
After the Robinhood update, Arbitrum’s native token ARB initially jumped 5% but later extended the daily gains to 18%.
But the bulls were rebuffed at the supply zone below $0.40 (red). At press time, ARB erased all the gains and was back to the support zone (cyan) around $0.30.
Trading volumes also declined too as shown by the OBV. Unless volumes recover alongside buying pressure, bulls may struggle to hold on to the $0.3 support.
Source: ARB/USDT, TradingView
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