Key facts
- Over $70 million in Ether has been bridged to Robinhood's new layer-2 blockchain in its first week.
- Robinhood Chain is an EVM-compatible Arbitrum-based layer-2 network using ETH as its native gas token.
- The chain saw daily active users reach 194,000 and daily revenue grow to $39,000 within its first week.
- Robinhood Chain has a total value locked of approximately $83 million.
- The move by Robinhood to build on Ethereum's ecosystem could further solidify its position for tokenized real-world assets.
Robinhood's new layer-2 blockchain, built on Arbitrum technology, has seen over $70 million in Ether bridged to it within its first week of operation. The chain, which launched on July 1, utilizes ETH as its native gas token, generating direct demand for the cryptocurrency with every transaction. Robinhood Chain has also reported significant user activity, with daily active users reaching 194,000 and daily revenue growing to $39,000, equivalent to an annualized run rate of $14 million. The total value locked (TVL) on the chain is approximately $83 million, with substantial inflows recorded recently. Analysts suggest that this adoption could further solidify Ethereum's position as a key platform for tokenized real-world assets. The chain's high volume on Uniswap, reaching $568 million in daily trading, has also contributed to a 19% surge in Arbitrum's ARB token.