Robinhood Chain's TVL Hits New High as Tokenized RWAs Lose Ground

Total value locked (TVL) in Robinhood Chain has hit a new high of over $540 million, representing a 45% increase from August. This surge is largely driven by the growth of tokenized RWAs on the chain, which have reached $32 million, a 120% month-over-month gain.

However, despite the impressive numbers, the ratio between TVL and tokenized RWAs has shifted significantly since July 7. On that date, RWAs accounted for nearly a third of total chain TVL, but now they make up just 6%. This suggests that TVL grew roughly seven times faster than tokenized RWAs since the launch of the chain.

The stablecoin market cap on Robinhood Chain has also seen significant growth, reaching around $640 million, a 22% increase month-to-date. The majority of this growth is attributed to USDe, which now accounts for 44% of the chain's total stablecoins and boasts a value of over $286 million.