Whole worth locked has roughly tripled since mid-July to about $312 million, in keeping with DefiLlama, and Robinhood Chain is now clearing greater than $600 million in day by day decentralized-exchange quantity, placing it among the many extra lively 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 listing is full of tokens like “Hoodrat,” “Vladhood” and “Swole Doge,” not the tokenized equities the community was constructed for, which commerce on Uniswap however rank nicely down the amount rankings.
The tokenized shares generate roughly $55 million in day by day quantity, underneath a tenth of the chain’s almost $600 million in complete DEX buying and selling, the information reveals. The remainder is dominated by memecoins.
Stablecoins stay the one largest presence on the chain, with a mixed market worth within the a whole lot of thousands and thousands of {dollars}, and memecoins, such because the Robinhood mascot-themed CASHCAT, that outlined the chain’s first weeks, are nonetheless active and heavily 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.
