Robinhood Chain TVL surpasses $600M in just three weeks, fueled by memecoin mania

Robinhood’s new blockchain has crossed $600 million in total value locked, according to Artemis analytics. For a chain that launched its mainnet on July 1, that’s a staggering ramp from under $5 million to nine figures in its first week, then blasting past half a billion before the month was out. Here’s the thing, though. The growth isn’t coming from the tokenized real-world assets Robinhood built the chain to support. It’s coming from memecoins. The numbers behind the surge Robinhood Chain is a permissionless Ethereum Layer-2 built on Arbitrum Orbit technology. It was designed to bring traditional financial services on-chain and facilitate RWA trading. By July 21, Artemis pegged the TVL at approximately $588.9 million, with the figure now clearing the $600 million mark. Stablecoins make up the bulk of that number, with around $433 million sitting in stablecoin deposits based on available snapshots. Uniswap alone has accumulated over $80 million in TVL on the chain. Daily decentralized exchange volume has consistently exceeded $800 million. Monthly active users reportedly range between 280,000 and 1.6 million. That’s a wide band, and the variance likely reflects different counting ...