Whole worth locked has roughly tripled since mid-July to about $312 million, in line with DefiLlama, and Robinhood Chain is now clearing greater than $600 million in each day decentralized-exchange quantity, placing it among the many extra energetic networks in crypto.
Its transaction depend has additionally drawn consideration, with greater than 138 million in 30 days, per Token Terminal. However the chain’s most-traded tokens are nonetheless overwhelmingly memecoins.
On DEX Screener, the highest of Robinhood Chain’s trending checklist is stuffed with tokens like “Hoodrat,” “Vladhood” and “Swole Doge,” not the tokenized equities the community was constructed for, which commerce on Uniswap however rank properly down the quantity rankings.
The tokenized shares generate roughly $55 million in each day quantity, below a tenth of the chain’s almost $600 million in complete DEX buying and selling, the info exhibits. The remainder is dominated by memecoins.
Stablecoins stay the only largest presence on the chain, with a mixed market worth within the tons of of thousands and thousands of {dollars}, and memecoins, such because the Robinhood mascot-themed CASHCAT, that outlined the chain’s first weeks, are nonetheless energetic and closely traded.
The critique three weeks in the past was that Robinhood had constructed costly infrastructure and attracted solely hypothesis, with little signal that the tokenized-stock enterprise it pitched would materialize.
