Ethereum
Ether Declines as Arbitrum Rallies on Robinhood Orbit Chain Activity
Ether pulled back over a 24-hour stretch even as ecosystem token Arbitrum gained 26% on the back of surging network fees.
Ether dropped over a 24-hour window, declining alongside Bitcoin while the layer 2 asset Arbitrum advanced 26% to trade near $0.1101. The rally detached ARB from the weakness seen across large-cap assets.
The move was propelled by record performance on Robinhood Chain, an Orbit rollup that routes 8% of net revenue to the ArbitrumDAO treasury and 2% to a developer guild. The network generated $2.13 million in daily chain fees and $1.92 million in revenue, outpacing Arbitrum One during the period despite the broader downturn in ETH.
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