Robinhood Chain Sees Explosive Growth in Tokenized Stocks
Tokenized stocks on Robinhood Chain have seen a fivefold increase in value to approximately $70 million over the past two weeks. The platform, which launched on July 1, initially attracted memecoins but has since shifted towards more traditional assets. Currently, about a dozen tokenized stocks are generating daily volumes of over $500,000, with five exceeding $1 million.
GameStop leads the pack at $26.6 million per day, followed by Nvidia's $14 million and SpaceX's $6.4 million. The total value locked (TVL) on the chain has roughly tripled since mid-July to about $312 million, with daily DEX volume exceeding $600 million.
Over 100 assets have been tokenized, with a total real-world asset value nearing $25 million. Daily trading volumes have spiked from around $5 million per day to $60 million, indicating significant growth in the space. Robinhood's upcoming earnings report may shed more light on the company's plans for its blockchain infrastructure.