Robinhood Chain trading volume rises from $200,000 to $500 million in nine days

Trading volume on Robinhood Chain rose from just over $200,000 on July 1 to more than $500 million nine days later, according to data from DefiLlama. The online brokerage launched the layer-2 network built on Ethereum in early July. The company had positioned the chain as infrastructure for tokenized financial products.

Volume driven by memecoins Within days of the launch, memecoins became some of the most traded assets on the network. One token, Cash Cat, reached a market capitalization of around $150 million on Friday, CoinGecko data showed. The company previously generated significant crypto revenue from Dogecoin in 2021, when that token accounted for 62 percent of its crypto revenue in the second quarter.

A company executive said the firm remains focused on building infrastructure for real-world assets. A separate company post on X noted the chain's real-world asset goals while acknowledging current trading patterns.