Robinhood Chain Surges Past Top Rivals as HOOD Stock Continues Uptrend
Robinhood Chain has been experiencing rapid growth since its launch in July. The total value locked (TVL) in the chain has reached a record high of $783 million, surpassing other popular chains like Cardano and Avalanche.
The chain's DEX protocols have handled over $20.3 billion in transactions in the last 30 days, with a volume of $1.55 billion in the last 24 hours. This is higher than many well-known chains, including Ethereum and BNB Chain.
The stablecoin supply on Robinhood Chain has also increased significantly, reaching over $868 million and making it the 14th-biggest chain in this metric.
Analysts expect Robinhood's business to continue growing, with Yahoo Finance forecasting an annual revenue of $5.19 billion, up by 16% YoY, followed by a jump to $6.55 billion next year.