Robinhood built a blockchain for tokenized stocks. Memecoins took over

Story summary

Robinhood Chain has pulled in $135 million of value and 800,000 addresses since July 1. Almost none of it is doing what the chain was built for. Robinhood Chain, an Ethereum layer-2 launched July 1 to host tokenized stocks, has quickly become one of crypto’s busiest new networks, with about $312 million in total value locked and 3.6 million daily transactions. Despite Robinhood’s pitch of a regulated venue for tokenized real-world assets, those assets account for only about $12.8 million on the chain, while memecoins like CASHCAT and stablecoins dominate activity and market value. The chain’s future hinges on whether speculative memecoin traders convert into users of its tokenized equity and…

Robinhood Chain has pulled in $135 million of value and 800,000 addresses since July 1. Almost none of it is doing what the chain was built for.

Robinhood Chain, an Ethereum layer-2 launched July 1 to host tokenized stocks, has quickly become one of crypto’s busiest new networks, with about $312 million in total value locked and 3.6 million daily transactions.
Despite Robinhood’s pitch of a regulated venue for tokenized real-world assets, those assets account for only about $12.8 million on the chain, while memecoins like CASHCAT and stablecoins dominate activity and market value.
The chain’s future hinges on whether speculative memecoin traders convert into users of its tokenized equity and real-world asset offerings.

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Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months

CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.

Why it matters :

CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.

Ethereum Foundation spinout EthSystems targets banks with blockchain privacy technology

Bitcoin's BIP-110 sparked a fight over who gets to decide the future of Bitcoin

Robinhood Chain surges into top five by DEX volume: Bernstein

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