Blockchain Networks Specialize in High-Liquidity Tasks, Meme Tokens Dominate

As of 2026, blockchain networks have become highly specialized in one high-liquidity task. Most chains have adopted specific use cases and are no longer competing directly with Ethereum. Instead, they aim to attract their unique user base and excel in a particular activity.

Robinhood is currently the hottest meme venue, with over 50% of its activity tied to issuing and trading memes. This has led to significant growth for the network, with value locked increasing from $4M in June to over $1.4B as of August 27. The rise of Robinhood can be attributed to its emergence as a hub for tokenized real-world assets (RWA), which have attracted new users and liquidity.

Ethereum has emerged as infrastructure, consolidating other chains and tokens due to its compatibility and largest available liquidity. This allows Ethereum to support DeFi and stablecoin activity while serving as a base layer for other networks. Even Robinhood chose to become an Ethereum L2 chain, utilizing established technology to support its activity.