Robinhood Chain Surges: L2 Posts More Than $3 Billion in DEX Volume With 7 Million Daily Transfers
Robinhood Chain processed more than $3 billion in trading volume during its first full week of public operation, according to DefiLlama data. However, most of that volume came from meme coins rather than the tokenized stocks the network was built to support.
The Arbitrum Orbit layer two network launched its public mainnet on July 1 during Robinhood’s “The World Is Flat” event in London. CEO Vlad Tenev introduced the chain as infrastructure for tokenized real-world assets, backed by launch partners including Uniswap, Chainlink, Bitgo and Morpho.
By July 13, Growthepie recorded 7 million daily transactions and 295,900 daily active addresses on the network. Token Terminal tracked daily transactions rising from about 680,000 to 7 million during the first week, and daily active users climbing from 33,000 to 194,000.
Uniswap’s dedicated Robinhood Chain pool absorbed nearly all trading activity, generating $868.03 million in 24-hour volume and $3.097 billion over seven days. The meme coin cash cat (CASHCAT) became the chain’s dominant attention driver, with a market cap near $144.6 million and $34.8 million in 24-hour trading volume. Tenev acknowledged the pattern, noting that a network built for real-world assets also works well for meme trading.
Robinhood Chain’s total value locked reached $139.78 million, with Morpho Blue accounting for $89.04 million. Uniswap held $44.87 million in TVL, and NOXA Fun added $10.92 million. Ethena seeded about $50 million into a Steakhouse-curated USDG vault on Morpho.
Stablecoin supply reached $294.42 million, with USDG making up 66% of that total. Bridged value into the network totaled $439.58 million. Tokenized stock activity remains small, with a market cap of $12.67 million compared to roughly $300 million in stablecoins and $3.1 billion in weekly DEX volume.
Chain-level fees totaled $116,284 over 24 hours and $709,137 over seven days. App-level fees reached $4.24 million over the same period. Opensea added support for Robinhood Chain on July 11, and Chainalysis added automatic token support and monitoring coverage.
The next test for Robinhood Chain is whether tokenized stock and lending activity can grow enough to match the memecoin volume that carried its first two weeks. A meaningful share of current volume depends on Cashcat holding investor interest.