Robinhood Chain Drives $568 Million Trading Volume, Boosting Arbitrum’s ARB Token 19%

Arbitrum’s ARB token jumped 19% over the past 24 hours as Robinhood Chain processed over $568 million in daily trading volume on Wednesday and logged over $350 million so far on Thursday, according to CoinDesk data and blockchain data from Entropy Advisors.

“Arbitrum jumps 19% benefitting from Robinhood's $568 million onchain trading frenzy The brokerage's new blockchain is off to a fast start, with memecoin trading boosting activity and revenue flowing back to the Arbitrum ecosystem”

@coindesk

CoinDesk said the activity was driven by a burst of memecoin trading and that stablecoin balances on the network climbed quickly above $260 million within its first week.

@coindesk

Under an agreement described by CoinDesk, 10% of Robinhood Chain’s net protocol revenue flows back to the Arbitrum ecosystem, split between the DAO treasury and the Developer Guild.

CoinDesk also reported that Robinhood unveiled the chain at its London event last week as the centerpiece of a broader crypto push, including plans to expand its crypto business into AI-powered trading and additional asset classes.

The Cryptonomist said Robinhood Chain’s launch on July 1 produced $570 million in daily volume against just $21.68 million in total value locked, a 26:1 ratio that it said “doesn’t exist anywhere else in decentralized finance at comparable scale.”

It added that Robinhood Chain turned over its entire liquidity base 26 times in a single day and that the ARB token surged over 12% after Offchain Labs confirmed 10% of Robinhood Chain fees flow to the Arbitrum ecosystem.

Crypto Briefing

CryptoRank reported that on July 8 Robinhood Chain’s DEX hit a record $563.9 million in daily trading volume with 193,187 daily active addresses and over 140,000 first-time users since the July 1 mainnet launch.

CryptoRank said the surge was driven by a meme-coin rush and token launches, including 16,639 tokens created in 24 hours, led by Cash Cat which reached a roughly $100 million market cap and ~$98 million in 24-hour volume.

Crypto Briefing said on July 8 Uniswap recorded $500 million in 24-hour trading volume on Robinhood Chain, making it the highest-volume Uniswap deployment outside of Ethereum mainnet itself.

“Robinhood Chain hits $500M in 24-hour volume on Uniswap, trailing only Ethereum mainnet The new Arbitrum-based Layer-2 network posted explosive first-week numbers, with tokenized stocks and memecoins driving the frenzy”

Crypto Briefing

It reported that Robinhood Chain went live on its public mainnet around July 1-2, built on the Arbitrum technology stack with 100-millisecond block times, and that Uniswap processed over $250 million in volume on Robinhood Chain within the first week.

The Defiant reported that Pump.fun said its app now routes “crosschain” trades into Robinhood-linked tokens with no bridging, and that Pump.fun co-founder Alon Cohen wrote, “Robinhood tokens are now available to trade on the Pumpfun app!”

The Defiant also said a memecoin modeled on Robinhood’s old mascot, CASHCAT, posted quadruple-digit percentage gains on the week-old network, and it cited Lookonchain saying one trader holding a wallet ending in 0xDE4C turned an $838 purchase into just over $1 million after selling most of the position.