Robinhood Chain Flips Hyperliquid in DEX Volume amid RWA, DeFi, CASHCAT Buzz

Robinhood Chain, a permissionless AI-native Layer 2 blockchain built on Arbitrum Orbit, has overtaken Hyperliquid in 24-hour decentralized exchange (DEX) volume. According to DefiLlama data, the chain recorded approximately $433 million in DEX volume over the past 24 hours, compared to Hyperliquid’s $296 million. This places Robinhood Chain fifth in DEX volume by chain, with a seven-day total of nearly $900 million, while Hyperliquid’s seven-day volume stands at $656.28 million.

The milestone comes just one week after Robinhood Chain’s mainnet launch. In its debut week, the chain accumulated nearly $1 billion in cumulative DEX volume, around $100 million in total value locked (TVL), and over 350,000 addresses. Token Terminal data shows that ETH bridged from Ethereum L1 to Robinhood Chain surged 70x in a week, exceeding $70 million. The chain uses ETH as gas.

Santiment reported that the surge is driven by buzz around real-world asset (RWA) tokenization, DeFi tools, and the CASHCAT meme coin. “Bulls see a TradFi-to-DeFi bridge, while skeptics question stock-token rights and lasting demand,” Santiment noted.

A key catalyst is Robinhood CEO Vlad Tenev’s social media activity. He posted on X, “While we’re building robinhood chain to be the best chain for RWA … it works great for memes too.” He also declared “Robinhood Summer is here,” positioning the chain as a bridge between retail brokerage and on-chain trading. Additionally, Robinhood covers gas fees for eligible Wallet users until September 29.

The CASHCAT meme coin, named after Robinhood’s early mascot, has surged over 1000% in three days, trading at $0.1455 with a 60% gain in the last 24 hours. Lookonchain reported that a wallet linked to Solana address CLM6E4 (holding 10.5 million ANSEM) spent $233,000 to buy 2.79 million CASHCAT, fueling speculation and further price action.

Robinhood Chain’s rapid ascent highlights growing interest in Layer 2 networks that integrate traditional finance with decentralized applications, though sustainability of the hype remains to be seen.

Source: https://coingape.com/robinhood-chain-flips-hyperliquid-dex-volume-rwa-defi-cashcat-buzz/