$ARB Has Revenue. The Token Doesn’t. Robinhood Chain has pushed Arbitrum's estimated monthly revenue run rate to around $5 million, more than five times its pre-launch level. Robinhood Chain also paid roughly $370,000 to Arbitrum in a single 24-hour period earlier this month. Sounds pretty good for $ARB , right? There's one awkward detail: ARB holders currently have no direct claim on that revenue. I think this distinction gets lost constantly in crypto. A protocol can have growing users, fees and revenue while its token captures very little of that economic activity. The company can be doing well, the network can be doing well, the token doesn't automatically have to do well with them. #Macro Insights# #Altcoin Season#