Robinhood Chain Surges Past Solana and BNB in Trading Fees

Robinhood Chain has become a major player in the world of blockchain networks after collecting $23.8 million in fees over the past seven days, surpassing Solana and BNB Chain.

This is largely due to the rise of memecoins, which have been paired against thinly traded stocks on the platform.

Chris Perkins, head of Franklin Crypto, defended Robinhood Chain as an 'incredible unlock' on Monday's episode of Bits + Bips, praising its ability to print money and calling it 'the DeFi mullet in action.'

Bernstein's analysts, led by Gautam Chhugani, agreed that the chain is now a source of earnings, with daily trading fees ranging from $2 million to $4 million.