BlockBeats information: On July 13, lower than two weeks after Robinhood launched its Ethereum Layer 2 community, Robinhood Chain, on July 1, the full worth locked (TVL) had risen to roughly $135 million, with practically 800,000 cumulative energetic addresses and three.6 million every day transactions, making it one of the crucial energetic new blockchains in the crypto market.
Nonetheless, the precise on-chain utilization has considerably deviated from its positioning as “tokenized shares.” At the moment, the full on-chain worth of tokenized real-world property (RWA) is barely about $12.81 million, with tokenized shares accounting for about $10.68 million. In the meantime, the meme coin CASHCAT, named after Robinhood’s former mascot, has surged 2,158% over the previous seven days, reaching a market cap of $156 million—far exceeding the full on-chain RWA worth—and has spurred the emergence of a wave of Robinhood-themed meme cash.
Information exhibits that the present market capitalization of stablecoins on Robinhood Chain is roughly $299 million, with USDG, issued by Robinhood, accounting for about $200 million. Beforehand, Robinhood CEO Vlad Tenev said that the corporate’s long-term aim stays constructing RWA infrastructure, however he additionally acknowledged that “this chain is equally well-suited for meme coin buying and selling.”
