AI · The Block
Robinhood Chain's rapid growth has been driven by several factors, including the brokerage's strong brand
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
◎ Multiple-sources
Since launching on July 1, Robinhood Chain's TVL has already climbed to nearly $1 billion.
Key facts
- Since launching on July 1, Robinhood Chain's TVL has already climbed to nearly $1 billion
- Second is the chain's permissionless design, allowing developers to launch tokens freely, with Pons reportedly facilitating 10,000 token launches a day, including approximately 25,000 on Sept. 2
- USDG accounts for 67% of the total, with Ethena’s USDe behind it at 30%
- Meanwhile, the stablecoin market cap on Robinhood Chain crossed $1 billion last week
Summary
Robinhood Chain's rapid growth has been driven by several factors, including the brokerage's strong brand, its permissionless design, subsidized gas fees and a growing flywheel between memecoins and tokenized stocks, according to StoneX analyst Mark Palmer. Palmer set to answer common investor questions he's received since initiating a "buy" rating and $170 price target on Robinhood's stock. First is Robinhood's brand, including the viral marketing effect of the CASHCAT token after CEO Vlad Tenev followed its account. Second is the chain's permissionless design, allowing developers to launch tokens freely, with Pons reportedly facilitating 10,000 token launches a day, including approximately 25,000 on Sept. 2.