Robinhood Chain’s TVL Nears $1B, but Failed L1s Raise Sustainability Question

The chain's one-month TVL growth stands at 71%, yet net outflows of $11.11 million over 24 hours show capital can still move quickly. Four blue-chip layer-1 blockchains from the last market cycle have lost more than 99% of the value once locked on them, and a crypto researcher is asking if Robinhood Chain is next. Stacy Muur pointed to steep TVL losses at Fantom, Aurora, Canto and Songbird, putting Robinhood Chain’s recent growth against a less forgiving history. Four Blue-Chip L1s That Cratered In a post on X, Muur called out the damage bluntly. “Blue-chip L1s from the last cycle got absolutely deleted,” she wrote before running through the numbers. Fantom peaked at $7.7 billion in locked value and now sits at $4.8 million, with daily decentralized exchange volume down to under $9,000 even though $318 million worth of stablecoins are still parked on the chain. Aurora went from $2.6 billion to $3.1 million, and DefiLlama shows just 133 addresses touching the chain in the past day, despite the project having raised $102 million over its lifetime. Canto fell from $200 million to $3.6 million, with its token now trading at $0.0017 for a market cap of roughly $1 million. On its part, S...