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Robinhood Chain boosts Ethereum L2 activity, but price impact debated

Ether rose about 15% between July 1 and July 13, even as most activity from other L2s has stayed on the rollups themselves.

Reported · Written up by our desk · Market Structure

Cointelegraph reports that Robinhood Chain, Robinhood’s Arbitrum-based Ethereum L2, has become one of Ethereum’s busiest rollups since launching July 1, with more than $141 million in Ether bridged to the chain in its first two weeks.

According to DeFiLlama data cited by Cointelegraph, more than half a million wallets now hold ETH on the network, and Robinhood Chain’s memecoin-driven surge helped it overtake Ethereum’s L1 and Coinbase’s Base L2 in 24-hour DEX trading volume.

Cointelegraph also notes that Ether gained around 15% from $1,582 on July 1 to about $1,825 by July 13, citing Coingecko data, following bullish commentary that frames ETH as the “money” powering the ecosystem.

Still, Cointelegraph highlights that earlier L2 growth on Arbitrum, Optimism, and Base largely did not move Ether’s price because economic activity remained on rollups, and it points to Deutsche Bank building an institutional-focused ZK-powered Ethereum L2 called DAMA 2.

Latest closeEthereum $1,884.65 ▼1.7%

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