Robinhood Chain Surpasses Ethereum in Daily Revenue

Robinhood Chain achieved an impressive milestone on August 31, surpassing Ethereum and Hyperliquid in daily revenue. The decentralized exchange (DEX) recorded a staggering $989 million in trading volume, nearly doubling its previous month's total.

Total value locked reached $708 million, driven mainly by the popularity of memecoin trading and token launchpads. This growth is notable, but it's worth mentioning that US users still cannot access stock tokens, limiting Robinhood's core market.

Despite this limitation, daily app revenue hit a record high of $2.66 million, exceeding Ethereum and Hyperliquid. However, the competition in blockchain equity trading is rising, with Coinbase and Kraken expanding their offerings.