Arbitrum just launched its new initiative called Chain Reaction, and it couldn’t have come at a more active time for the network. This campaign aims to highlight the apps that are driving serious growth on Arbitrum, especially in the world of perpetuals, or “perps” as most of us know them.
The first spotlight fell on four platforms that have been doing heavy lifting in the ecosystem: GMX, Rho, Ostium, and Gains Network. These names aren’t new to seasoned traders, but what’s impressive is just how much volume they’re handling. According to Arbitrum’s official X account, these four apps alone accounted for over 60% of all perpetual trading volume on the chain last month.
To put it in perspective, Arbitrum has now processed more than 800 billion dollars in cumulative volume through perp trading. That is a huge number, and it’s a strong sign that traders are increasingly choosing Arbitrum as their home base for decentralized derivatives.
Each of the featured platforms brings something unique to the table. GMX, one of the earliest and most trusted names in the space, continues to lead with deep liquidity and a loyal community. Rho and Ostium are newer players but have quickly found their niche, offering different angles on leverage, liquidity, and trading strategies. Gains Network, already popular on Polygon, is now gaining serious traction on Arbitrum too.
Introducing Chain Reaction, a new initiative spotlighting apps accelerating Arbitrum Everywhere
— Arbitrum (@arbitrum) June 5, 2025
First up, the perps powerhouses: @GMX_IO@Rho_xyz @OstiumLabs@GainsNetwork_io
Let's dive in ⬇️ pic.twitter.com/01Nt8ydFAG
Crypto analysts were quick to pick up on the announcement. One account, CryptoBusy, responded by calling Arbitrum the infrastructure layer where perps scale. They noted that the recent numbers signal something bigger coming next – more liquidity, deeper integration, and wider market opportunities.
But here’s where things get a little strange. Despite all this activity and hype around the Chain Reaction launch, Arbitrum’s native token, $ARB, didn’t move the way you’d expect. In fact, quite the opposite.
At the time of writing, $ARB is down around 5 percent on the day, currently trading near $0.33. This drop comes during a broader market correction, which has pulled down many altcoins alongside Bitcoin and Ethereum. So even though the fundamentals around Arbitrum look strong, the token price isn’t reflecting that momentum just yet.
This disconnect between network usage and token price isn’t uncommon in crypto. We’ve seen it before with other layer-2s and DeFi platforms. Sometimes, the activity heats up first and the token catches up later. Other times, traders are simply too risk-averse during a market downturn to price in long-term growth stories.
It also doesn’t help that $ARB has been under some pressure recently. After its unlocks earlier this year, the market has struggled to maintain a bullish outlook for the token. Short-term sentiment remains weak, and unless Bitcoin reverses course soon, it’s likely that $ARB will remain rangebound, even with strong network headlines in its favor.
Still, there’s something brewing here. The Chain Reaction campaign signals that Arbitrum wants to shift the spotlight onto real use cases. By focusing on perp platforms that are actually driving volume, the team is making a clear statement: this isn’t just another layer-2. This is the place where serious DeFi happens.
Whether the market responds now or later is another question. But if the current trends continue and the momentum around perps on Arbitrum keeps building, it may only be a matter of time before traders give $ARB another look.
Until then, perps are thriving. And Arbitrum is quietly laying the groundwork for what could be one of the most active ecosystems in crypto this year.
Read also: Why Everyone Suddenly Loves Kaspa – And What Could Happen Next for KAS Price
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