TL;DR
- Arbitrum jumped 14% in a single day, driven by the Yapyo presale, which sparked demand for ARB, USDC, and ETH, pushing its trading volume to $770 million.
- Rumors of a potential partnership between Robinhood and Arbitrum also fueled the rally.
- The token holds a bullish structure, though a liquidity cluster at $0.29 and a bearish divergence in the CMF signal a possible correction.
Arbitrum posted a sharp 14% rise over the past 24 hours, fueled by the excitement surrounding Yapyo, a new SocialFi platform preparing its presale on the ARB network.
The event triggered heavy demand for ARB, USDC, and ETH — all required assets to join the presale — sending ARB’s trading volume to $770 million, a 590% increase from the previous day.
This surge pushed Arbitrum to an intraday high of $0.3891, regaining ground after falling below $0.26 in June. The token currently trades at $0.3523, and market expectations now point to $0.50 as a possible target if momentum continues in the coming days. On the technical side, the token broke out of a descending consolidation pattern and maintains a bullish structure on short-term charts, with resistance levels at $0.3828, $0.4009, and $0.4229.
A Partnership with Robinhood?
Beyond the frenzy triggered by Yapyo, rumors surfaced about a potential partnership between Arbitrum and Robinhood to develop a blockchain platform aimed at making U.S. stock trading easier for European investors. Speculation intensified after confirmation of a meeting in Cannes involving both companies and Vitalik Buterin, scheduled for tonight.
Meanwhile, institutional activity in ARB increased. A multisig wallet linked to Gelato transferred 20 million tokens to GSR, which later moved around 9.5 million to Binance in what appears to be a systematic accumulation move. Native tokens within the network also rallied. GRAIL, Camelot DEX’s native asset, jumped 34%, likely benefiting from Yapyo’s exclusive launch on its platform.
What Are Arbitrum’s Indicators Showing?
Arbitrum’s key metrics remain on an upward trend. The total value locked on the network has reached $2.5 billion, while stablecoin capitalization exceeds $3.3 billion, maintaining a lead of over $1 billion against Polygon, Sui, Avalanche, and Aptos. At the same time, the network recorded 440,000 active addresses in the past week, a 20% increase from May.
However, certain technical indicators suggest volatility could be approaching. A liquidity cluster at $0.29 may trigger pullbacks if buying pressure weakens, while the Chaikin Money Flow shows a bearish divergence, indicating declining capital inflows
