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Robinhood Chain layer-2 lift boosts Ethereum sentiment

The new network has already bridged about $141 million in ETH, with more than half a million ETH-holding wallets and about $877.6 million in DEX volumes in 24 hours.

Reported · Written up by our desk · Market Structure

Cointelegraph reports that the launch of Robinhood Chain, a new Ethereum layer-2 network, has boosted investor sentiment around ETH. The chain uses ETH as its native gas token, and roughly $141 million in ETH has already been bridged to the network, according to the report.

The same coverage says Robinhood Chain surpassed Ethereum L1 and rival L2 Base over the past 24 hours, driven by decentralized exchange volumes of about $877.56 million. More than half a million wallets holding ETH are now on the network, and the L2 is described as an offshoot of the TradFi trading platform Robinhood, which offers tokenized stocks to customers in 120 countries.

While some prior commentary has suggested layer-2s could be bearish for Ethereum by shifting activity away from L1 without returning much in transaction fees, Cointelegraph notes that even former Ethereum skeptics are rethinking that view. The outlet cites claims from market participants that Ethereum’s position in real-world asset activity and its total value locked indicate ETH could be underpriced relative to past periods.

Beyond market structure, the digest also points to UK political developments tied to crypto donations, including a report that Labour MPs are considering making a prior moratorium on digital-asset donations permanent after Nigel Farage’s resignation. Cointelegraph says the move follows coverage that Farage accepted millions of British pounds in “gifts” from industry figures.

Latest closeEthereum $1,840.68 ▲2.9%

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