ARB surges over 33% in 24 hours, pushing its market capitalization to $1.065 billion

BlockBeats News, September 1st, according to HTX market data, ARB has surged over 33% in the past 24 hours, now trading at $0.1149, with a market cap rising to $10.65 billion.

Earlier, Offchain Labs co-founder Steven Goldfeder stated that 10% of the fees generated by the Robinhood Chain and other Arbitrum L2 will flow into the Arbitrum ecosystem, with 8% going to a treasury controlled by token holders and 2% allocated to development funds.

This mechanism means that ARB token holders in the treasury will have a continuous source of income, and the funds can be used in the future for ecosystem grants, buybacks, or staking rewards.

Recently, the Robinhood Chain ecosystem has been booming, with DeFi applications and Meme coin frenzy in full swing. If the trading volume on the Robinhood Chain continues to increase, it may further enhance the revenue-generating capacity of the Arbitrum ecosystem.