Home Robinhood Chain Records 70-fold Jump In Bridged Ethereum After Mainnet Launch

Robinhood Chain Records 70-fold Jump In Bridged Ethereum After Mainnet Launch

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Robinhood Chain Records 70-fold Jump In Bridged Ethereum After Mainnet Launch
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Robinhood’s new Layer 2 blockchain has seen a 70-fold jump in Ethereum (ETH) bridging just days after its public mainnet launch, according to Token Terminal. Over $70 million in ETH has already moved from Ethereum to Robinhood Chain. Daily active wallets and trading volumes have also surged, showing strong early user interest.

The blockchain, built on Arbitrum Orbit, launched its public mainnet around July 1 after months of testing. Since ETH is used for transaction fees, the big increase in bridged Ethereum points to more user activity and growing on-chain participation.

Token Terminal reported that the network added over 141,000 new active wallets on July 8, bringing the total daily active addresses to almost 193,000.

Trading activity has picked up quickly. Decentralized exchange (DEX) volume reached about $563 million in 24 hours, which is nearly one-third of Solana’s spot DEX trading volume for the same time frame.

Much of the early momentum has come from a surprising source. A meme coin called $CASHCAT, inspired by Robinhood’s former mascot, quickly hit a market cap of over $100 million and drew many retail traders to the new ecosystem.

Robinhood designed the blockchain to support tokenized real-world assets like stocks. However, trading in speculative meme coins has become a major driver of early network growth.

With the mainnet launch, Robinhood also rolled out new features like perpetual futures trading, Stock Tokens, and support for Apple Pay and Google Pay in the Robinhood Wallet. At its “The World is Flat” event in London, the company said it will cover gas fees for swaps, bridge transfers, and perpetual futures trades on Robinhood Chain for the first 90 days, following the terms that apply.

The ecosystem is already attracting major decentralized finance projects. Uniswap and Pleiades have launched on the network, while Chainlink supplies price feeds for tokenized stock trading.

Users can trade blockchain-based versions of shares in companies like NVIDIA, Apple, and Google. They can also use these assets as collateral in decentralized lending and borrowing protocols.

The sharp rise in bridged ETH, active wallets, and trading volume shows that Robinhood Chain has had a strong start. While its long-term goal is to focus on tokenized financial assets, the first wave of growth highlights how retail crypto traders are still a major force in adopting new blockchain ecosystems.

 

 

Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV

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Written by
Kapil Rajyaguru -

Kapil Rajyaguru is a news editor at 3.0 TV with over 15 years of professional writing experience and more than four years dedicated to the cryptoverse.

An engineer by education and a writer by passion, Kapil brings a rare mix of technical insight and storytelling finesse. A firm believer that cryptocurrencies, blockchain and AI are the building blocks of the future, he crafts in-depth news and analysis to educate, empower and prepare the masses for the next frontier of Web3.

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