Robinhood Chain Tops $431 Million in TVL Within Three Weeks, With Memecoins Driving 80% of Volume
Summary
- Robinhood Chain reached $431 million in TVL and more than 250,000 daily users in less than three weeks after launch.
- Memecoin trading accounted for more than 80% of Robinhood Chain’s $9 billion in cumulative DEX volume.
- Citing FalconX, The Block reported that tokenized real-world assets (RWAs) could become a key driver of activity on Robinhood Chain.
Forecast Trend Report by Period
Robinhood Chain has drawn more than $400 million in total value locked, or TVL, in less than three weeks since launch, according to an analysis.
Crypto news outlet The Block said in a post on X on July 21 that Robinhood Chain had reached $431 million in TVL and more than 250,000 daily users in under three weeks.
Cumulative trading volume on decentralized exchanges, or DEXs, on Robinhood Chain has climbed to $9 billion, The Block reported. More than 80% of that volume came from memecoin trading.
The market is also weighing whether activity could shift from memecoins to tokenized real-world assets, or RWAs. Citing FalconX, The Block reported that tokenized RWAs could become a key driver of activity on Robinhood Chain.
Robinhood Chain quickly built its user base on early demand for memecoin trading. Its longer-term ecosystem growth will likely hinge on broader use cases for tokenized stocks and real-world assets.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.