Robinhood Chain Surpasses Ethereum in Daily Revenue as Memecoin Trading Takes Over

The Robinhood Chain has seen its busiest day yet, with apps on the chain earning $2.66 million in 24 hours. This is twice what apps on Ethereum brought in and six times those on Base.

The blockchain processed a record 5.52 million transactions on August 30, while trading on decentralized exchanges reached roughly $875 million, according to onchain data.

Uniswap, the largest decentralized exchange on the chain, accounted for most of this total, with about $432 million through its newest version and another $357 million through the previous one.

The rise in activity has been driven by memecoins, which can be created in minutes. Pons, an app that lets users create and trade new tokens, saw 22,600 tokens launched on August 30, up more than 40% from the day before.