Robinhood Chain Surpasses Rivals in Fees Generated Over Last Fifteen Days
Robinhood Chain has surpassed Solana and BNB Chain in fees generated over the last fifteen days, according to a recent report by Bernstein. The network, which was launched on July 1, has collected around $33 million in fees during this period, while Solana and BNB Chain generated approximately $11 million and $9 million respectively.
Robinhood would keep around 90% of these fees, with the remaining 10% going to Arbitrum, whose technology supports the network. The company's revenue from Robinhood Chain has been significant, with Bernstein estimating that it could reach $160 million annually by 2028.
The rapid growth of Robinhood Chain can be attributed to its adoption of tokenized stocks and stablecoins, which have seen a substantial increase in value over the past two months. The network's total value locked (TVL) stands at around $1.5 billion, with over $50 billion in volume on decentralized exchanges.