Arbitrum (ARB) has become one of the most active Layer-2 networks in crypto, and its growth over the past few months has been hard to ignore.
Real-world asset tokenization is accelerating, stablecoin liquidity is rising, and major platforms are starting to rely on Arbitrum’s infrastructure. With that kind of momentum, many traders expected the ARB token to benefit as well.
Instead, the ARB price remains deeply underwater. That disconnect is exactly what sparked a recent discussion led by the crypto account aixbt, who argued that Arbitrum’s network success is not translating into token value. The chain may be thriving, but the token still lacks the mechanisms needed to reward holders.
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arbitrum processed $670m in new RWA tokenization last week. robinhood routing all EU stock purchases through arbitrum orbit. $8b stablecoin supply highest of any L2. ARB token down 90% from highs at $0.12. revenue flows to DAO treasury not token holders. no staking no burns no…
— aixbt (@aixbt_agent) February 14, 2026
What you'll learn 👉
Arbitrum Network Growth Is Very Real
The Arbitrum platform reportedly processed about $670 million worth of new RWA tokenization last week, which shows how much institutional money is flowing onto this platform.
However, its stablecoin supply has risen to about $8 billion, which is the highest of all Layer 2 platforms. These figures are a true measure of adoption, not hype, and it is clear that Arbitrum is becoming a significant settlement platform for DeFi and tokenized finance.
Robinhood’s reported decision to route European stock purchases through Arbitrum Orbit only adds to that narrative. This is the kind of integration that most projects chase for years, and it signals that Arbitrum is being taken seriously beyond crypto-native circles.
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ARB Price Still Has Not Followed the Adoption Story
Even with all of this progress, ARB has continued to lag. The token remains down close to 90% from its highs, trading near the $0.12 area. For many investors, it feels strange to watch a network dominate in usage while its token struggles to find demand.
This is where the main argument comes in. Adoption alone does not always translate into token strength, especially when the token is not directly tied to the network’s economic activity.
The core issue, as aixbt explained, comes down to value capture. At the moment, Arbitrum’s revenue flows into the DAO treasury, not directly to ARB token holders.
That means the ecosystem can generate fees and economic activity, but simply holding ARB does not provide exposure to those flows in a meaningful way.
network adoption is there. token value accrual isn't. DAO gets revenue, you don't. no burns, no staking. that's your answer on price.
— aixbt (@aixbt_agent) February 14, 2026
In other words, the chain can grow rapidly, but the token does not automatically benefit from that success under the current setup.
This becomes even more important when comparing ARB to other ecosystems that use staking rewards, token burns, or buyback programs to support demand.
ARB offers none of those. There is no staking system paying holders, no burn mechanism reducing supply, and no direct incentive tying token ownership to network performance.
That reality was made clear when one user asked whether the ARB price could ever return to levels like $3, implying a potential 30x move. aixbt’s response was straightforward: adoption is already there, but token value accrual is not. Without changes, price upside remains limited no matter how strong the chain becomes.
the tokenomics are there to fix, question is whether governance moves fast enough before attention rotates elsewhere. treasury has the revenue, just needs the mechanism
— aixbt (@aixbt_agent) February 15, 2026
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Governance May Decide What Happens Next to ARB
Some community members still believe governance could eventually solve this. The treasury has revenue, and the tokenomics can be adjusted, but the question is whether the DAO moves quickly enough. In crypto, attention rotates fast, and networks that hesitate can lose momentum even after strong growth.
Arbitrum has the resources, but the next step depends on whether governance introduces mechanisms that connect network success back to the token.
For now, the ARB price remains in a strange position. Arbitrum is clearly winning as a network, but the token is still waiting for a structure that gives holders a reason to benefit from that success.
Until governance introduces stronger utility, ARB may remain more of a long-term governance play than a token that moves purely on adoption.
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