Home›Crypto›Market Structure›Robinhood Chain TVL jumps 45% in August, stablecoins r…

Robinhood Chain TVL jumps 45% in August, stablecoins rise

Stablecoin market cap on the chain reached about $640 million, with USDe accounting for 44% of total stablecoins after gaining nearly 50% since early August.

Reported · Written up by our desk · Market Structure

Robinhood Chain TVL has posted record levels, rising more than 45% in August to over $540 million, according to an excerpt from The Block’s Data and Insights newsletter.

Tokenized real-world assets (tokenized RWAs) on the chain are $32 million, up 120% month over month, but their share of total TVL has fallen sharply, accounting for nearly a third of TVL on July 7 compared with just 6% today.

The outlet reports the chain’s stablecoin market cap has reached roughly $640 million, up 22% month to date, driven largely by USDe. USDe is at $286 million, up nearly 50% since the start of August, and now represents 44% of Robinhood Chain’s stablecoins.

By contrast, The Block says USDG has stalled, trading in a $330 million to $350 million range over the same period, after previously dominating early supply with 92.7% of supply in the chain’s first week.

More like this

Sources