Robinhood Chain Surpasses Ethereum in Daily App Revenue
Robinhood Chain has surpassed Ethereum in daily app revenue, according to data from Traders Union. The network generated approximately $2.66 million in revenue over 24 hours, surpassing Ethereum and nearly every other blockchain by this metric.
The main driver of activity on Robinhood Chain was memecoins, with users launching a record 22,600 tokens on the network on August 30. This is more than 40% above the previous day's figure, according to Pons, the token launch platform.
Memecoin trading service GMGN, Pons, and decentralized exchange Uniswap accounted for approximately 88% of the total revenue generated by apps on Robinhood Chain. Trading volume on Robinhood Chain's decentralized exchanges reached approximately $875 million, with Uniswap generating around $432 million in volume and its previous version another $357 million.