![Arbitrum ARB Token Sets Record-High Price as Value Locked Crosses .5B Arbitrum ARB Token Sets Record-High Price as Value Locked Crosses .5B](https://www.coindesk.com/resizer/HyDPxDz9ADOUOkwMUovkL9pCY4M=/1200x628/center/middle/cloudfront-us-east-1.images.arcpublishing.com/coindesk/ZNBCQHDUMZC75DHEBMSZBYETGQ.jpg)
The price has climbed some 10% in the past 24 hours, beating the broader crypto market, while on-chain volumes on Arbitrum-based applications crossed $920 million. The CoinDesk Market Index dropped 1.7% in the same period. The Arbitrum influx overtook volumes of Solana-based applications, which boomed after a meme coin-led frenzy in December.