Robinhood Chain Sees Record $85M Daily Volume Thanks to Tokenized Stocks

The daily onchain trading volume on Robinhood Chain has reached a new record of $85.1 million, thanks to the growth in tokenized stock trading. Tokenized stocks made up the bulk of this volume at $66.6 million, followed by memecoin versus stock pairs at $10.4 million.

This surge in volume is a significant departure from July's numbers, when memecoin pairs accounted for 73% of the total. Today, that figure stands at just 12%, with straight stock trading making up 78%.

The growth can be attributed to two factors: the addition of 100 new stock tokens to the network by Robinhood Crypto in early August and the increased liquidity provided by Uniswap's correlated pools, which pair individual stock tokens against SPY.