Robinhood Chain Surges Amid Crypto Winter as HOOD Stock Prepares for Earnings

Robinhood Chain's growth has gained momentum in the DeFi industry. Despite the ongoing crypto winter, its recently launched blockchain network is performing well. In addition to this, Robinhood stock will publish its earnings this week.

The company's revenue growth is expected to continue rising, helped by the soaring volume in the stock market. The average estimate is that its revenue rose by nearly 30% in the second quarter to $1.28 billion. However, the main blemish in its earnings will be its crypto business, which is expected to weaken further amid the crypto winter.

Robinhood Chain has emerged as a major player in the DeFi industry, with over $330 million in assets spread across 111 protocols. It has also become the fifth biggest chain in the DEX industry after Ethereum, BSC, Solana, and Base. Since its launch, it has handled transactions worth over $11 billion.

The company aims to grow its positioning in the real-world asset (RWA) industry with the help of this chain. It is already offering hundreds of stocks and ETFs through Arbitrum. However, the stock price has plunged sharply in the past few days, reaching its lowest level since June 26.