Arbitrum (ARB) gained 12.39% to $0.1513 after Standard Chartered initiated coverage of the token with a price target of $10 by the end of 2030. The projection represents a roughly 70-fold increase from current levels. Meanwhile, the broader cryptocurrency market declined 6.26% to $2.60 trillion over 24 hours, with Bitcoin falling to $75,856 following the Senate's rejection of the Digital Asset Market Clarity Act.
Revenue Growth Thesis
Geoff Kendrick, Standard Chartered's global head of digital assets research, characterized Arbitrum as an enterprise-grade infrastructure platform for traditional finance firms transitioning on-chain. Arbitrum collects a rolling 10% of net protocol revenue from chains built on its stack.
Robinhood Chain, which launched on July 1, serves as the primary catalyst. Kendrick estimates Arbitrum will generate approximately $5 million in September revenue, representing a roughly fivefold increase from its pre-launch monthly average. The previous monthly record was $4.4 million in October 2025.
Kendrick projects tokenized equities will grow from approximately $3 billion currently to $750 billion by the end of 2028. His price forecast follows a path of $0.50 this year, $1.50 in 2027, and $3.50 in 2028.
Structural Considerations
Kendrick identified a structural limitation in the investment thesis: while ARB carries governance rights, the token provides no direct claim on protocol revenue and features no burn mechanism. This structure mirrors governance tokens like Aave and Chainlink. He noted that a buyback program becomes more likely as the ecosystem matures.
Supply dynamics also factor into the outlook. Approximately 92.3% of the maximum 10 billion token supply has vested, with the final tranche due in March 2027.
