Robinhood Chain Asset Market Cap Tops $1 Billion, Stablecoins Make Up 68%
Minseung Kang
Summary
- The total market capitalization of assets on Robinhood Chain, the blockchain network developed by Robinhood, has surpassed $1 billion.
- On-chain analyst Tom Wan wrote that the combined market capitalization of assets on Robinhood Chain had topped $1 billion.
- Robinhood Chain's asset mix consists of 58% standard stablecoins, 28% Ether (ETH) and 10% yield-bearing stablecoins, bringing the total stablecoin share to 68%.
The total market capitalization of assets on Robinhood Chain, the blockchain network developed by Robinhood, has surpassed $1 billion.
On Aug. 9, on-chain analyst Tom Wan wrote on X that the combined market value of assets on Robinhood Chain had crossed the $1 billion mark.
By asset type, standard stablecoins accounted for the largest share at 58%. Ether made up 28%, followed by yield-bearing stablecoins at 10%.
Taken together, standard stablecoins and yield-bearing stablecoins comprised 68% of total assets. The asset mix on Robinhood Chain is concentrated in stablecoins and Ether.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.