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Robinhood Chain logs record transactions as memecoin tools boost revenue

On Aug. 30, the network processed an all-time high 5.52 million transactions and apps earned about $2.66 million in 24 hours, driven largely by memecoin trading tools and Uniswap.

Reported · Written up by our desk · Market Structure

CoinDesk reports that Robinhood Chain hit an all-time high on Aug. 30, processing a record 5.52 million transactions as decentralized trading activity accelerated. The outlet says decentralized exchange trading on the chain reached about $875 million, led by Uniswap. Uniswap accounted for roughly $432 million through its newest version and about $357 million through the previous one.

CoinDesk also reports that Robinhood Chain apps earned about $2.66 million over 24 hours, with memecoin tools GMGN and Pons plus Uniswap generating about 88% of the total. The chain’s app activity is being linked to speculative token launches, rather than tokenized stock trading.

According to CoinDesk, users launched about 22,600 tokens in a single day through Pons, up more than 40% from the prior day. CoinDesk adds that the chain is Ethereum-compatible and launched on July 1 with tokenized stocks as its flagship use case.

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