{"id":634152,"date":"2024-08-09T08:00:00","date_gmt":"2024-08-09T08:00:00","guid":{"rendered":"https:\/\/uniquehot.com\/?p=634152"},"modified":"2024-08-17T12:29:52","modified_gmt":"2024-08-17T12:29:52","slug":"arb-surges-nearly-10-as-franklin-templeton-launches-fund-on-arbitrum","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/all\/arb-surges-nearly-10-as-franklin-templeton-launches-fund-on-arbitrum\/","title":{"rendered":"ARB Surges Nearly 10% As Franklin Templeton Launches Fund on Arbitrum"},"content":{"rendered":"<p>Financial asset manager giant Franklin Templeton is the latest merging legacy financial mechanisms with blockchain technology. This leading global asset management firm <a href=\"https:\/\/www.prnewswire.com\/news-releases\/franklin-templeton-money-market-fund-launches-on-arbitrum-blockchain-302217402.html\" target=\"_blank\" rel=\"noopener nofollow\">expanded<\/a> its digital asset integrations by launching its OnChain US Government Money Fund (FOBXX) on the Arbitrum network.<\/p>\n<p>Following this debut, Arbitrum <a href=\"https:\/\/uniquehot.com\/arbitrum\/arbitrum-assets-ethereum-arb-down-68-7-months\/\" target=\"_blank\" rel=\"noopener \">network native token ARB<\/a> has seen a significant surge in market price, adding to the overall bullish crypto prices today.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/arbitrum\/arbitrum-assets-ethereum-arb-down-68-7-months\/\" target=\"_blank\" rel=\"noopener \">Arbitrum Attracts Over 48% Of Assets From Ethereum: Why Is ARB Down 68% In 7 Months?<\/a><\/div>\n<h2>Government Money Fund On Arbitrum<\/h2>\n<p>As reported in a press release, Franklin Templeton&#8217;s latest collaboration with the Arbitrum Foundation aims to harness the &#8220;enhanced scalability and efficiency&#8221; of Arbitrum, currently <a href=\"https:\/\/uniquehot.com\/news\/uniswap-on-arbitrum-nears-150-billion-in-swap-volume\/\" target=\"_blank\" rel=\"noopener \">one of the largest Ethereum Layer 2 solutions by total value locked<\/a>.<\/p>\n<p>With $2.6 billion in deposits and a 34% <a href=\"https:\/\/defillama.com\/chain\/Arbitrum\" target=\"_blank\" rel=\"noopener nofollow\">market share<\/a>, Arbitrum is a leader in the Layer 2 space, particularly for its high number of daily active addresses compared to its competitors.<\/p>\n<p>This partnership, as reported, highlights Franklin Templeton\u2019s efforts to &#8220;leverage blockchain technology to enhance asset management capabilities, offering clients innovative avenues for investment.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Franklin Templeton\u2019s <a href=\"https:\/\/twitter.com\/FTI_DA?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">@FTI_DA<\/a> OnChain U.S. Government Money Fund is now available on Arbitrum!<\/p>\n<p>We\u2019re excited to have access to the BENJI platform and see a major financial institution, Franklin Templeton, build on Arbitrum!<a href=\"https:\/\/t.co\/CRWCFyz3NM\" target=\"_blank\" rel=\"noopener nofollow\">https:\/\/t.co\/CRWCFyz3NM<\/a> <a href=\"https:\/\/t.co\/yrlwflYOow\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/yrlwflYOow<\/a><\/p>\n<p>\u2014 Arbitrum (\ud83d\udc99,\ud83e\udde1) (@arbitrum) <a href=\"https:\/\/twitter.com\/arbitrum\/status\/68323662?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">August 8, 2024<\/a><\/p><\/blockquote>\n<p>The fund represented digitally via the BENJI token, is placed to expose investors to US government securities through a blockchain-enabled platform.<\/p>\n<p>The Benji Investments platform facilitates transactions within digital wallets, promoting an integration of traditional and digital investment practices. <a href=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-spot-etf-franklin-templeton-launches-fee-war-with-0-19-offer\/\" target=\"_blank\" rel=\"noopener \">Franklin Templeton<\/a> Head of Digital Assets Roger Bayston particularly noted:<\/p>\n<blockquote><p>Expanding into the Arbitrum ecosystem is an important step on our journey to empower our asset management capabilities with blockchain technology. We are enthusiastic about the opportunities this will unlock for our firm and our clients.<\/p><\/blockquote>\n<p>According to the report, maintaining a stable share price of $1 and focusing primarily on government securities, FOBXX aims to deliver &#8220;considerable&#8221; returns while incorporating the &#8220;security and stability&#8221; associated with government-backed assets.<\/p>\n<h2>ARB Surges Nearly 10%<\/h2>\n<p>So far, ARB has increased 9.3% in the past 24 hours following the news. The asset trades for $0.53 at the time of writing, marking a <a href=\"https:\/\/uniquehot.com\/arbitrum\/arbitrum-prints-td-buy-signal-trend-flip\/\" target=\"_blank\" rel=\"noopener \">notable surge from its lower price<\/a> of $0.43 on Monday.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/kdKATQrK\/\" alt=\"Arbitrum (ARB) price chart on TradingView\" width=\"2770\" height=\"1496\"><figcaption class=\"wp-caption-text\">ARB price is moving downwards on the 1-hour chart. Source: ARB\/USDT on<a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=BINANCE%3AARBUSDT\" target=\"_blank\" rel=\"noopener nofollow\"> TradingView.com<\/a><\/figcaption><\/figure>\n<p>According to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/arbitrum\" target=\"_blank\" rel=\"noopener nofollow\">data<\/a> from CoinGecko, not only ARB&#8217;s price has increased, the asset&#8217;s market cap valuation has also seen a more than $100 billion boost over the past day.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/arbitrum\/arbitrum-prints-td-buy-signal-trend-flip\/\" target=\"_blank\" rel=\"noopener \">Arbitrum Prints TD Buy Signal: Trend About To Flip?<\/a><\/div>\n<p>Interestingly, despite this notable development, <a href=\"https:\/\/uniquehot.com\/news\/arbitrum-launches-fraud-proofs-in-testnet-why-is-arb-down\/\" target=\"_blank\" rel=\"noopener \">ARB&#8217;s<\/a> 24-hour trading volume hasn&#8217;t increased much, given the weight of the news. In the past day, this metric has only increased from roughly $270,927 to $288,552 at the time of writing.<\/p>\n<p>Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial asset manager giant Franklin Templeton is the latest merging legacy financial mechanisms with blockchain technology. This leading global asset management firm expanded its digital asset integrations by launching its OnChain US Government Money Fund (FOBXX) on the Arbitrum network. Following this debut, Arbitrum network native token ARB has seen a significant surge in market price, adding to the overall bullish crypto prices today. Related Reading: Arbitrum Attracts Over 48% Of Assets From Ethereum: Why Is ARB Down 68% In 7 Months? Government Money Fund On Arbitrum As reported in a press release, Franklin Templeton&#8217;s latest collaboration with the Arbitrum Foundation aims to harness the &#8220;enhanced scalability and efficiency&#8221; of Arbitrum, currently one of the largest Ethereum Layer 2 solutions by total value locked. With $2.6 billion in deposits and a 34% market share, Arbitrum is a leader in the Layer 2 space, particularly for its high number of daily active addresses compared to its competitors. This partnership, as reported, highlights Franklin Templeton\u2019s efforts to &#8220;leverage blockchain technology to enhance asset management capabilities, offering clients innovative avenues for investment.&#8221; Franklin Templeton\u2019s @FTI_DA OnChain U.S. Government Money Fund is now available on Arbitrum! We\u2019re excited to have access to the BENJI platform and see a major financial institution, Franklin Templeton, build on Arbitrum!https:\/\/t.co\/CRWCFyz3NM pic.twitter.com\/yrlwflYOow \u2014 Arbitrum (\ud83d\udc99,\ud83e\udde1) (@arbitrum) August 8, 2024 The fund represented digitally via the BENJI token, is placed to expose investors to US government securities through a blockchain-enabled platform. The Benji Investments platform facilitates transactions within digital wallets, promoting an integration of traditional and digital investment practices. Franklin Templeton Head of Digital Assets Roger Bayston particularly noted: Expanding into the Arbitrum ecosystem is an important step on our journey to empower our asset management capabilities with blockchain technology. We are enthusiastic about the opportunities this will unlock for our firm and our clients. According to the report, maintaining a stable share price of $1 and focusing primarily on government securities, FOBXX aims to deliver &#8220;considerable&#8221; returns while incorporating the &#8220;security and stability&#8221; associated with government-backed assets. ARB Surges Nearly 10% So far, ARB has increased 9.3% in the past 24 hours following the news. The asset trades for $0.53 at the time of writing, marking a notable surge from its lower price of $0.43 on Monday. According to data from CoinGecko, not only ARB&#8217;s price has increased, the asset&#8217;s market cap valuation has also seen a more than $100 billion boost over the past day. Related Reading: Arbitrum Prints TD Buy Signal: Trend About To Flip? Interestingly, despite this notable development, ARB&#8217;s 24-hour trading volume hasn&#8217;t increased much, given the weight of the news. In the past day, this metric has only increased from roughly $270,927 to $288,552 at the time of writing. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":634153,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[134,88023,84309,88077,6664,10923,91217],"class_list":["post-634152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all","tag-altcoin","tag-arb","tag-arbitrum","tag-arbusdt","tag-crypto","tag-crypto-market","tag-franklin-templeton"],"acf":[],"yoast_head":"\n<title>ARB Surges Nearly 10% As Franklin Templeton Launches Fund on Arbitrum<\/title>\n<meta name=\"description\" content=\"Following this debut, Arbitrum network native token ARB has seen a significant surge in market price adding to the overall bullish crypto...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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