Ethereum · CoinDesk
Robinhood Chain overtakes Ethereum in daily revenue as memecoin trading takes
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The upstart Robinhood Chain had its busiest day yet, and the rush is looking a lot more like a memecoin casino than the market for tokenized stocks it was built to host.
Key facts
- Apps on the chain earned about $2.66 million over 24 hours, second only to Solana's $5.07 million and ahead of every other network, DefiLlama data shows
- The blockchain processed 5.52 million transactions on Aug. 30, an all-time high, while trading on decentralized exchanges reached roughly $875 million, according to onchain data
- About 22,600 tokens were launched in a single day through Pons, data shows, a Robinhood Chain app that lets anyone create and trade a new token straight from their crypto wallet, up more than 40%
- Robinhood Chain's transaction count has climbed from well below one million a day in early July to more than 5 million
Summary
Robinhood Chain processed a record 5.52 million transactions on Aug. 30, while decentralized exchange trading reached about $875 million. Users launched about 22,600 tokens through Pons in one day, underscoring how speculative memecoins have eclipsed the network’s intended focus on tokenized stocks. Apps on Robinhood Chain earned about $2.66 million over 24 hours, with the memecoin tools GMGN and Pons and the decentralized exchange Uniswap generating about 88 percent of the total. Apps on the chain earned about $2.66 million over 24 hours, second only to Solana's $5.07 million and ahead of every other network, DefiLlama data shows.