Robinhood Chain has overtaken Ethereum in 24-hour DEX volume less than two weeks after launch. Meme coin trading drove much of the activity, while the network also attracted stablecoins, tokenized stocks, and more than 65,000 users.
Robinhood Chain has moved ahead of Ethereum in 24-hour decentralized exchange volume less than two weeks after its July 1 launch. The layer-2 network recorded about $811 million in DEX activity ranking third behind Solana and BNB Smart Chain.
The rise has come from speculative trading, stablecoin inflows, and tokenized assets. DefiLlama, Dune, and Bernstein data shows meme coins lead activity, while Robinhood plans to expand trading in stocks, commodities, and perpetual futures.
Robinhood Chain Climbs to Third in DEX Rankings
DefiLlama placed Robinhood Chain behind Solana, which recorded about $1.21 billion in daily DEX volume, and BNB Smart Chain, which posted $1.05 billion. Ethereum ranked below Robinhood Chain.
Bernstein analysts said the network processed about $3.1 billion in DEX volume during its first seven days. That result placed Robinhood Chain among the five busiest networks by decentralized trading activity.
More than 65,000 users have moved assets onto the network. They hold about $300 million in stablecoins and nearly $13 million in tokenized stocks. DeFi value locked crossed $100 million within 15 days.
Robinhood built the network on Arbitrum as an Ethereum layer-2. It supports round-the-clock trading, self-custody, lending, collateral use, tokenized stocks, stablecoins, and other on-chain products.
Meme Coins Drive the First Wave of Trading
Meme coins have produced most early trading volume. Dune data shows Cash Cat, a token linked to Robinhood’s branding, leads all assets with about $299 million in volume across more than 304,000 trades.
Bernstein said the first week relied heavily on speculative trading before crypto liquidity entered the network. The analysts wrote that “strong early adoption” shows tokenized assets are moving closer to the wider decentralized finance market.
The chain connects with Uniswap, Morpho, Lighter, Chainlink, and BitGo. These links support swaps, lending, data services, custody, and perpetual futures. Lighter has committed $11 million in LIT tokens to support trading.
Eligible United States users can lend USDG through Robinhood and earn up to 7% APY through Morpho. Robinhood offers tokenized stocks in more than 120 countries outside the United States.
Robinhood Shifts Focus Toward Tokenized Assets
Robinhood plans to move more activity toward tokenized equities, commodities, and perpetual futures. Its stock tokens represent shares held by a sponsor and can enter lending pools or serve as trading collateral.
Meanwhile, tokenized real-world assets have expanded. Their total value rose from about $35 billion at the end of 2025 to more than $51 billion by July 2026. Tokenized equities reached about $1.9 billion after rising roughly 170%.
The number of on-chain real-world asset holders has passed one million. Ethereum and Provenance account for close to 70% of that activity while private credit and U.S. Treasurys form the largest categories.
Robinhood is also expanding its agentic AI trading tools from stocks into crypto. Its event contract volume rose from 300 million in the first quarter of 2025 to 8.8 billion in the first quarter of 2026 on the platform.
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