ARB rose more than 40% again today, and the core story is still the Robinhood Chain narrative. Robinhood Chain uses Arbitrum technology and returns 10% of net protocol revenue to the Arbitrum ecosystem, with 8% going into the DAO treasury.

Recently, Robinhood Chain’s daily revenue once reached $1.92 million, and the Arbitrum DAO’s peak daily share was about $176,000. In the first half of the year, Arbitrum processed 478 million transactions and generated $6.19 million in DAO revenue, showing that this technology is finally no longer just a story—it has truly started to make money.

However, these revenues currently only go into the DAO treasury, with no clear plan for buybacks, burns, or distributions to token holders; Gas on Arbitrum One is also paid in ETH, and ARB remains mainly a governance token. The positive developments for the chain and technology are real, but they have not yet fully flowed through to the ARB token. This rally is more about trading expectations of future empowerment, combined with low liquidity, momentum chasing, and a short squeeze.