Launched on July 1, the Arbitrum-based Robinhood Chain has reached approximately $34.6 billion in cumulative decentralized exchange volume by early September. During its first week, the network recorded $3.1 billion in trades, with daily volumes often exceeding $500 million.
By early September, peak daily trading volumes on the chain ranged between $989 million and over $3.7 billion. Uniswap remains the primary venue for this activity, capturing between 77% and 90% of the daily DEX volume on peak days.
Growth is driven by memecoins, such as CASHCAT, which saw its market cap exceed $100 million, and tokenized versions of stocks like NVDA and AAPL. These equities have generated billions in cumulative volume, offering 24/7 access to trading.
Total value locked on the chain reached approximately $708 million in August, marking a 100% month-over-month increase. Additionally, the supply of stablecoins on the network grew by 47% monthly, reaching approximately $770 million.
While on-chain metrics show significant activity, the network is primarily utilized by crypto-native users. The integration of Robinhood’s core retail brokerage base into the DeFi ecosystem through this chain remains in its early stages.
