Robinhood, a widely known buying and selling platform for shares and cryptocurrencies, introduced a brand new characteristic integration with a rising layer-2 blockchain answer at ETHDenver.
Customers of Robinhood Pockets can now entry swaps on Arbitrum, a secondary blockchain constructed on prime of Ethereum.
Robinhood Customers Will Be Ready To Make the most of Layer-2 Arbitrum
Based on a current report, Robinhood Pockets customers can now interact in transactions with layer-2 blockchain, Arbitrum.
On January 13, BeInCrypto reported that Arbitrum is without doubt one of the most economical networks to transact, boasting a mean price of $0.26.
Later this yr, each Robinhood and Arbitrum will collaborate to allow cross-chain swaps.
Learn extra: Optimism Vs. Arbitrum: Ethereum Layer-2 Rollups In contrast
The ARB token of Arbitrum noticed a major enhance in worth, rising by over 11% instantly following the announcement. On the time of publication, ARB’s value is $1.97.
Arbitrum TVL Soars
Arbitrum features as a secondary layer-2 blockchain, often known as a rollup, processing transactions extra effectively in comparison with the first Ethereum blockchain.
Ethereum’s transaction pace is approximately 15 transactions per second (TPS), whereas Bitcoin’s TPS is roughly 7.
Based on DefiLlama, it has a complete worth locked (TVL) of roughly $3.27 billion.
On January 1, its TVL stood at $2.45 billion, marking a rise of round $820 million over two months.
In the meantime, Robinhood lately reported that its customers preserve a better curiosity in spot crypto buying and selling over crypto ETFs regardless of the launch of the spot Bitcoin ETF on January 10.
Learn extra: Arbitrum (ARB) Worth Prediction 2023/2025/2035
BeInCrypto lately reported that Robinhood’s Chief Monetary Officer, Jason Warnick, highlighted the development.
“About 5% of our general buying and selling in crypto is thru the ETF, with 95% nonetheless being on spot buying and selling by means of the crypto enterprise, and that’s stabilized,” he said.
In current occasions, Robinhood has enthusiastically built-in crypto providers into its platform.
In December 2023, the corporate launched crypto buying and selling providers within the European Union, offering European residents entry to 26 crypto tokens for purchasing and promoting.
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