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Robinhood Chain ranks among top five for weekly DEX volume

Since launching its mainnet on July 1, the network recorded about $3.1 billion in decentralized exchange volume over seven days, Bernstein said.

Reported · Written up by our desk · Market Structure

Robinhood Chain has quickly emerged as one of the most active networks for decentralized trading, joining the top five by DEX volume, according to a research note cited by CoinDesk and The Block. CoinDesk reports that Robinhood Chain generated about $3.1 billion in DEX volume over the past seven days after launching its mainnet on July 1. The chain is described as an Ethereum layer 2 built on Arbitrum, designed for tokenized real world assets and decentralized finance. Bernstein said more than 65,000 users hold tokenized stocks and stablecoins on the network, with holdings estimated at roughly $13 million in tokenized stocks and $300 million in stablecoins, CoinDesk reports. The research also said the launch is meant to support Robinhood's plan to expand tokenized equities and other real world assets through DeFi. CoinDesk adds that Robinhood Chain supports the firm's tokenized stock offering and targets features such as 24/7 trading, self custody, and onchain use cases including lending and collateral, alongside integrations with decentralized applications and liquidity providers. The Block similarly highlighted the $3 billion-plus weekly volume and the network's early user adoption.

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