Ethereum · Coinbase · CoinDesk
Data reviewed by CoinDesk shows that total value locked for the chain reached about $135 million
Compiled by KHAO Editorial — aggregated from 2 sources + 1 reference discovered via search. See llms.txt for citation guidance.
◎ Multiple-sources
This means the tokenized-equity book remains tiny in a chain that clears billions of dollars in weekly trading volume.
Key facts
- Data reviewed by CoinDesk shows that total value locked for the chain reached about $135 million, up more than sevenfold from $17 million on July 3, according to DefiLlama
- Global Dollar, the USDG token issued by the Paxos-led consortium Robinhood helped found, holds about $200 million of the roughly $299 million stablecoin market cap on the chain, with Ethena's USDe
- As of Monday morning, the value of all tokens locked on the protocol is $312 million, and the total asset market cap is $480 million
- A cat-themed token called CASHCAT, named after Robinhood's former mascot before the company rebranded, has surged 2,158% over the past 7 days, and the memecoin has a $156 million market cap
Summary
Robinhood Chain, an Ethereum layer-2 launched July 1 to host tokenized stocks, has quickly become one of crypto’s busiest new networks, with about $312 million in total value locked and 3.6 million daily transactions. Despite Robinhood’s pitch of a regulated venue for tokenized real-world assets, those assets account for only about $12.8 million on the chain, while memecoins like CASHCAT and stablecoins dominate activity and market value. The chain’s future hinges on whether speculative memecoin traders convert into users of its tokenized equity and real-world asset offerings. Robinhood Chain, the blockchain network built by the popular trading app to power tokenized stocks, has become one of the busiest new chains in crypto. A cat-themed token called CASHCAT, named after Robinhood's former mascot before the company rebranded, has surged 2,158% over the past 7 days, and the memecoin has a $156 million market cap.