Robinhood Chain Bridges $70M in ETH in First Week, Signaling Strong Adoption
HOOD sits 81% above its 52-week low of $63.515.
Summary
Robinhood's new Ethereum Layer-2 blockchain, Robinhood Chain, has attracted over $70 million in bridged ETH within its first week, according to Token Terminal. Daily active users hit 194,000, generating $39,000 in daily revenue—a $14 million annualized run rate. Total value locked stands at 46,748 ETH (~$83 million), with Thursday alone seeing $55 million in inflows. This rapid adoption follows the chain's July 2 launch and suggests strong user engagement from Robinhood's massive retail base. The chain uses ETH as its native gas token, creating direct, recurring demand for Ether and potentially establishing a new revenue stream for Robinhood. With tokenized stocks already offered in 120+ countries, the chain could become a significant platform for real-world asset tokenization. The metrics validate the L2 flywheel thesis and position Robinhood Chain as a meaningful new demand sink for ETH.
At the time of this announcement, HOOD was trading at $115.25 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $103.7B. The 52-week trading range was $63.52 to $153.86. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Cointelegraph.