Robinhood Chain Sees $875M DEX Volume Amid Token Launch Hype

Robinhood Chain's decentralised exchange (DEX) recorded $874.8 million in daily volume on August 30, along with 5.5 million transactions.

The figure, however, did not represent a new all-time high for the chain, which had previously seen volumes of around $878 million on July 11 and between $920 million to $944 million on August 25.

A significant portion of the volume came from the Pons family token launchpad, accounting for approximately 51% of the day's activity with a value of $445.98 million. Uniswap also contributed significantly to the flow, as it launched as a dedicated AMM (Automated Market Maker) on the chain from its inception.

The CASHCAT memecoin briefly reached a market capitalization of $100 million during the session, while Uniswap Labs' Pools.trade launchpad had gained traction but lost ground three weeks later, according to CryptoBriefing.