Robinhood Chain Surges: L2 Posts More Than $3 Billion in DEX Volume With 7 Million Daily Transfers

The Arbitrum Orbit furniture 2 ( L2) web launched its nationalist mainnet connected July 1, during Robinhood’s “The World Is Flat” lawsuit successful London. CEO Vlad Tenev introduced the concatenation arsenic infrastructure for tokenized real-world assets ( RWAs), backed by motorboat partners including Uniswap, Chainlink, Bitgo and Morpho. Robinhood’s existing lawsuit basal helped substance the aboriginal numbers.

The institution explained that it serves astir 28 cardinal customers crossed 38 countries, and Stock Tokens became disposable successful much than 120 countries, taxable to section jurisdiction. Robinhood besides advertised nary committee fees connected the concatenation and covered idiosyncratic gas costs during an archetypal period, lowering the obstruction for existing app users to determination onto the web quickly.

Transactions and User Activity Accelerate

By July 13, Growthepie recorded 7 cardinal regular transactions and 295,900 regular progressive addresses connected the network. Blockscout’s explorer showed a higher number of 10.83 cardinal regular transactions, portion L2beat measured 7.10 cardinal regular transfers. The 3 providers usage antithetic counting methods, but each points to the aforesaid outcome: Robinhood Chain moved from a caller motorboat to a high-throughput web wrong 2 weeks.

In a caller newsletter, Token Terminal tracked that maturation curve directly. Daily transactions connected Robinhood Chain roseate from astir 680,000 to 7 cardinal during the archetypal week. Daily progressive users climbed from 33,000 to 194,000. Daily gross accrued from $4,000 to $39,000, and mean artifact clip dropped from 580 milliseconds to astir 100 milliseconds.

Uniswap Dominates While Cash Cat Fuels Trading

Uniswap’s dedicated Robinhood Chain excavation absorbed astir each of that trading. Defillama figures amusement Uniswap generated $868.03 cardinal successful 24-hour volume and $3.097 cardinal implicit 7 days. Arcus, Pancakeswap, Rialto and Robinswap combined for a fraction of that total, with Arcus posting $5.12 cardinal successful play volume and Pancakeswap adding $3.22 million.

Much of that enactment traced backmost to cash feline (CASHCAT), a meme coin that became the chain’s ascendant attraction driver. Market information shows currency cat’s market cap adjacent $144.6 million, with $34.8 cardinal successful 24-hour trading volume.

Cash feline (CASHCAT) meme coin from Robinhood Chain via markets. bitcoin.com.

A wallet linked to trader Ansem reportedly moved $233,000 into the token, and currency feline aboriginal gained perpetual futures listings that added different furniture of speculation. Tenev acknowledged the pattern, noting that a web built for real-world assets ( RWAs) besides works good for meme trading.

Morpho Leads TVL and Lending Growth

Robinhood Chain’s full worth locked reached $139.78 million, up 11.64% implicit 24 hours, defillama.com concatenation logs show. Morpho Blue accounted for $89.04 cardinal of that figure, with progressive loans connected the web totaling $100.93 million, astir wholly tied to Morpho. Uniswap held $44.87 cardinal successful TVL, and NOXA Fun, a token launchpad, added $10.92 million.

Robinhood Chain stats via the network’s archetypal week via defillama.com logs.

Ethena reportedly seeded astir $50 cardinal into a Steakhouse-curated USDG vault connected Morpho, adding structured, yield-seeking superior to the network’s aboriginal liquidity. Robinhood Earn routes idiosyncratic deposits into that aforesaid vault, offering an estimated 7% yearly output done a self-custody wallet.

Stablecoins and Bridge Activity Expand

Stablecoin proviso connected Robinhood Chain reached $294.42 million, with USDG making up 66% of that total, defillama.com figures show. Bridged worth into the web totaled $439.58 million, divided betwixt $293.79 cardinal successful autochthonal assets and $145.79 cardinal moved done canonical bridges. L2beat recorded astir 246,850 span transfers and $19.63 cardinal successful nett inbound flow, with Ethereum to Robinhood Chain arsenic the busiest route.

Tokenized Stocks Remain a Small Piece of the Ecosystem

Tokenized banal enactment remains tiny adjacent to those numbers. Defillama places Robinhood Chain’s real-world plus market cap astatine $12.67 million, and Coingecko’s Stocks Ecosystem leafage shows a akin $12.6 cardinal figure. More than 65,000 users clasp astir $13 cardinal successful tokenized stocks, compared with astir $300 cardinal successful stablecoins and $3.1 cardinal successful play DEX volume.

Daily Metrics Show Momentum Holding

Daily snapshots amusement that aboriginal momentum held alternatively than faded. On July 8, the web logged $563.9 cardinal successful DEX volume, 193,187 regular progressive addresses, and much than 140,000 first-time users, alongside implicit 16,000 recently launched tokens.

By July 10, DEX volume climbed to $846.8 cardinal and progressive addresses reached 306,893, with 153,332 caller users astir matching the day’s returning wallet count. Volume stayed adjacent that level done July 13, erstwhile defillama.com recorded $868.69 cardinal successful 24-hour trading.

Fees Rise arsenic Infrastructure Support Grows

Chain-level fees totaled $116,284 implicit 24 hours and $709,137 implicit 7 days, defillama.com stats show, portion concatenation gross registered astatine zero, since collected fees are presently directed elsewhere successful the network’s interest structure. App-level fees, a abstracted measurement tied to trading enactment crossed protocols, reached $4.24 cardinal implicit the aforesaid 24-hour period.

Image source: Opensea via X.

Opensea added enactment for Robinhood Chain connected July 11, letting users commercialized banal tokens, NFTs, and meme coins connected its platform. Chainalysis added automatic token enactment and monitoring coverage, and Dune Analytics made the web queryable connected July 9. Those additions widen Robinhood Chain’s scope adjacent arsenic its NFT volume stays modest. Robinhood Punks recorded 85.64 ETH successful full volume, and Robinhood Apes logged astir 11.96 ETH, per Opensea stats.

The Next Challenge for Robinhood Chain

The adjacent trial for Robinhood Chain is whether tokenized banal and lending enactment tin turn capable to lucifer the memecoin volume that carried its archetypal 2 weeks. growthepie has warned that progressive code counts tin beryllium inflated by incentive-driven wallet activity, and a meaningful stock of existent volume depends connected Cashcat holding capitalist interest. Traders watching the web volition apt way whether Morpho’s lending basal and Robinhood’s banal token rollout tin outlast the meme rhythm that built its aboriginal numbers.