Analysts at Bernstein project that the Robinhood blockchain network will generate $160 million in annual fees by 2028. This growth is attributed to the rising demand for tokenized stock trading, which now accounts for approximately 27% of the total trading volume on the network.
The shift in activity is notable as trading of native memecoin pairs has declined to 36% of network volume, down from 100% at the time of the network's launch on July 1. Analysts suggest that automated market-making pools on Uniswap, which pair memecoins with stock tokens, are fueling this demand.
Data from DefiLlama indicates that the Robinhood chain has become the leading network by daily fees, recording $2.13 million in the past 24 hours. Following these developments, Bernstein raised its price target for Robinhood stock from $130 to $160 per share.
Despite the network's growth, the platform faces regulatory scrutiny regarding its tokenized equities. Adam Aron, CEO of AMC Entertainment, stated that the tokenized stocks providing exposure to AMC shares are not affiliated with the company and announced plans to seek a legal investigation.
