Robinhood Chain TVL Surges Past $540M as Tokenized RWA Share Shrinks to 6%

Rising adoption and growing demand have pushed Robinhood Chain's total value locked (TVL) to a record high, exceeding $540 million in August.

This surge represents a more than 45% increase in just one month, outpacing other sectors of the chain. Tokenized real-world assets (RWA), once touted as the core use case for Robinhood Chain, now account for only 6% of total TVL. In July, they made up about one-third of the total.

The stablecoin market has also seen significant growth, with a 22% increase in August to approximately $640 million. Notably, Ethena's USDe accounts for 44% of this total, valued at around $286 million, a 50% rise from early August.