Complete worth locked has roughly tripled since mid-July to about $312 million, based on DefiLlama, and Robinhood Chain is now clearing greater than $600 million in every day decentralized-exchange quantity, placing it among the many extra lively networks in crypto.
Its transaction rely 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 stuffed with tokens like “Hoodrat,” “Vladhood” and “Swole Doge,” not the tokenized equities the community was constructed for, which commerce on Uniswap however rank effectively down the amount rankings.
The tokenized shares generate roughly $55 million in every day quantity, below a tenth of the chain’s almost $600 million in complete DEX buying and selling, the info exhibits. The remaining is dominated by memecoins.
Stablecoins stay the one largest presence on the chain, with a mixed market worth within the a whole bunch of thousands and thousands of {dollars}, and memecoins, such because the Robinhood mascot-themed CASHCAT, that outlined the chain’s first weeks, are nonetheless lively 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.