Arbitrum’s $79B perp volume fails to lift ARB – What’s holding it back?

Arbitrum [ARB] traded around $0.16 after falling more than 3% over the past 24 hours. Meanwhile, Arbitrum One’s Security Council had frozen hack proceeds, while activity across the chain gained traction. That growth extended to perpetual futures trading and stablecoin transfers, although ARB’s price struggled to follow. Understanding Arbitrum's perp trading activity For instance, Arbitrum One became the second-largest chain for perp trading. The chain has generated over $79.60 billion in perps DEX volume over the past month. However, Hyperliquid [HYPE] led with $215 billion, almost three times that of Arbitrum, despite Cumberland warning its perp traders. Even when looking at Open Interest (OI), Arbitrum still came second with slightly over $1 billion for perps.

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