Robinhood Chain, an Arbitrum-based Ethereum layer-2 blockchain, launched on July 1 and attracted more than $70 million worth of Ether bridged to the network in its first week, according to Token Terminal. The platform expanded its tokenized stock offering to customers in more than 120 countries and reached nearly 194,000 daily active users with over $80 million in total value locked. The network uses ETH as its native gas token and is designed to support real-world asset tokenization, a sector where Ethereum and its layer-2 networks account for more than half of the market.
Robinhood Chain Records $70 Million ETH Bridged in First Week
Token Terminal reported that more than $70 million worth of Ether was bridged to Robinhood Chain in the first week following its July 1 launch. The network is an Arbitrum-based layer-2 blockchain that uses ETH as its native gas token. Token Terminal stated that continued adoption could become a meaningful new source of demand for Ethereum.
The platform expanded its tokenized stock offering to customers in more than 120 countries. This expansion could strengthen Ethereum's role in the real-world asset sector, where the blockchain and its layer-2 networks currently account for more than half of the market.
Network Reaches 194,000 Daily Active Users and $80 Million TVL
Token Terminal reported that Robinhood Chain reached around 194,000 daily active users and is generating approximately $39,000 in daily revenue. This equates to an annualized run rate of roughly $14 million. Data from DefiLlama shows the network's total value locked climbed to nearly 47,000 ETH, worth more than $80 million.
Analysts Highlight ETH's Role as Primary Trading Asset and Gas Token
Uniswap founder Hayden Adams explained that most activity on Robinhood Chain is denominated in ETH, which serves as the network's primary trading asset, gas token, and the asset used to pay Ethereum mainnet data storage fees. Other analysts argue that every transaction on Robinhood Chain creates recurring demand for ETH while helping onboard Robinhood's large user base into Ethereum's ecosystem.
ETH Trades at $1,770 with 3% Weekly Gain
Over the past week, ETH saw its price climb by more than 3%. The altcoin was trading hands at around $1,770 at press time. ETH's price is also up by more than 8% on the monthly time frame.
![ETH's price action over the past week]()
FAQ
What is Robinhood Chain and when did it launch?
Robinhood Chain is an Arbitrum-based Ethereum layer-2 blockchain that launched on July 1. The network uses ETH as its native gas token and is designed to support real-world asset tokenization. More than $70 million worth of Ether was bridged to the network in its first week, according to Token Terminal.
How many daily active users does Robinhood Chain have?
Token Terminal reported that Robinhood Chain reached around 194,000 daily active users. The network is generating approximately $39,000 in daily revenue, which equates to an annualized run rate of roughly $14 million. Data from DefiLlama shows the network's total value locked climbed to nearly 47,000 ETH, worth more than $80 million.
