Robinhood Chain attracted over $70 Million worth of bridged Ether in its first week. This reinforces Ethereum’s position as the settlement layer for the new tokenized financial network.
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- In its first week of launch, Robinhood Chain attracted over $70,000,000 in bridged Ether.
- Daily Uniswap Trading Volume has Reached $500 Million. Total Value Locked has climbed over $106 million. Institutional liquidity has supported this increase.
- Token Terminal believes that the continued use of Robinhood Chain will create new demand for Ether.
Token Terminal data showed that the Arbitrum layer-2 network had reached the landmark after its launch on July 1. The analytics platform said continued adoption of the Arbitrum-based chain could make it even more successful. “a meaningful new source of demand for ETH.”
Robinhood launched the EVM-compatible Network as an “AI-native” Blockchain built to support real-world assets using ETH gas token as the native token. Launch coincided with company rollouts of tokenized US stock to more than 120 nations, expanding their push into blockchain financial products.
Data from recent on-chain transactions also shows rapid ecosystem development. DeFiLlama’s data revealed that Robinhood Chain total value had climbed to $106 million following large deposits by institutions into the Morpho protocol. The daily Uniswap volume was also up. reached $500 millionThe network was only surpassed by Ethereum’s mainnet during the same time period.
Demand for Ethereum grows along with Robinhood Chain Activity
Token Terminal stated that Robinhood Chain is converting liquid assets into activity on the chain. Token Terminal said that the daily number of active users has reached 194,000 and daily revenues have risen to around $39,000.
DeFiLlama reported TVL’s growth was similar, as it showed that the network had 46,748 Ethereum, which is worth around $83 Million at current rates, before TVL expanded to $100 million. It added that the platform received 31,855 Eth, worth approximately $55 millions.
Hayden Adams, founder of Uniswap, commented on the activity of the network. said The majority of transactions made on Robinhood Chain involve ETH.
“It’s the base pair for trading, the highest volume asset, and the gas token to pay for blockspace,” Adams also added that Ethereum’s mainnet burns ETH to pay for the data storage cost.
Participation by institutions also has accelerated the liquidity growth. DeFiLlama says that around $90m of the chain’s secured value are held at Morpho. Robinhood Earn, which offers a 7% rate on USDG, is credited with this amount. Ethena made the largest contribution, depositing $50 million in Steakhouse Financial’s USDG vault.
Early momentum is supported by institutional flows
Robinhood’s tokenized finance eco-system continues to expand, and the growing activity is a result. The network’s trading has been dominated by Wrapped Ether, memecoins and tokenized equities such as NVDA, AAPL and GOOG. Robinhood also launched the chain using Uniswap v2, v3, v4, UniswapX and UniswapX v2 infrastructure.
RWA.xyz data Robinhood Chain can access an existing ecosystem by leveraging Ethereum’s layer-2 networks, which account for over 50% of the real-world tokenized asset market.
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Source: crypto.news
