Robinhood Blockchain Fees to Hit $160M by 2028 Amid Tokenized Stock Growth
Robinhood's blockchain network is on track to generate $160 million in annual fees by 2028, according to analysts at Bernstein.
The growth of tokenized stock trading on the network has driven this prediction. Since its launch on July 1, native memecoin pairs trading have decreased from 100% to 36% of network activity, while tokenized stock trading now accounts for about 27%.
This shift is attributed to automated market-making pools on Uniswap that pair memecoins with stock tokens, creating 'reflexive demand' for both sides. The Robinhood chain has emerged as the leading blockchain network by daily fees, generating $2.13 million in the past 24 hours.
Bernstein analysts have also raised their price target on Robinhood (HOOD) stock to $160 from $130 per share and maintained an Outperform rating. However, this growth has not been without controversy, as AMC Entertainment Holdings CEO Adam Aron criticized the platform's tokenized stocks, calling them 'outrageous' and stating that they have no affiliation with his company.