Crypto Terminals Smash $1 Billion Daily Volume Barrier

Crypto trading terminals have surpassed $1 billion in daily volume for the first time since January, according to data from onchain analyst adam_tehc. The milestone was driven by a new crop of platforms routing orders to Robinhood Chain, rather than traditional front-ends.

The record-breaking day saw Gmgn and fomo process a combined $747.94 million in volume, accounting for approximately 73% of all terminal volume. This is a stark contrast to the previous cycle, where Trojan, Photon, and BonkBot dominated retail flow with less than $5 million in combined volume.

The data suggests that Robinhood Chain's expansion has added hundreds of millions of dollars of daily flow on top of existing activity, compressing everyone else's percentage share without reducing their absolute volume. Solana's dollar volume has remained steady at around $149.4 million per day, but its market share has fallen from over 80% to 14.5%.