According to DefiLlama, the total amount locked has nearly tripled since mid-July to approximately $312 million, and Robinhood Chain now settles more than $600 million in daily decentralized trading volume, making it one of the more active networks in the cryptocurrency.
The number of transactions is also attracting attention, with each token terminal making more than 138 million transactions in 30 days. However, the most traded tokens on the chain are still by far meme coins.
On the DEX Screener, tokens such as “Hoodrat,” “Vladhood,” and “Swole Doge” are at the top of the Robinhood Chain trend list, rather than the tokenized stocks that the network is built on, which are traded on Uniswap but sit much lower in the volume rankings.
According to the data, tokenized stocks generate daily trading volume of about $55 million, less than one-tenth of the chain’s total DEX trading volume of about $600 million. The rest is dominated by meme coins.
Stablecoins remain the single largest entity on the chain, with a combined market value in the hundreds of millions of dollars, including meme coins themed after Robinhood’s mascot. $cashcatwhich defined the first few weeks of the chain, is still active and heavily traded.
Criticisms three weeks ago were that Robinhood was building expensive infrastructure and attracting only speculation, with little sign that the tokenized stock business it pitched would materialize.
