Robinhood Chain Surges to $989M DEX Volume Amid Shift to Utility-Focused Projects
Robinhood Chain, an Ethereum Layer 2 built on Arbitrum Orbit, has reached new heights in decentralized exchange volume. The network recorded $989 million in single-day DEX volume on Friday, with total value locked (TVL) rising to $708 million. This marks a nearly doubling of TVL from the previous month.
The growth pattern on Robinhood Chain has shifted away from memecoin speculation. In July, activity was driven by memecoins such as CASHCAT's rise and later spot listing on Robinhood. However, in August, trading moved toward infrastructure and utility-focused projects. PONS became one of the strongest performers, with its market capitalization rising from $20 million to over $200 million during the month.
The network's focus on tokenized assets has also contributed to its growth. Memecoins paired with tokenized stocks now represent about a quarter of stock-linked trading volume on Robinhood Chain. Utility projects such as Delta, UP, and NetNet have gained momentum, expanding alongside rising liquidity and trading activity.