- Robinhood Chain’s TVL has surged greater than 45% in August, topping $540 million and reaching a document excessive.
- The share of tokenized real-world property (RWA) on the chain has fallen from about one-third of whole TVL in July to 6% now.
- The chain’s stablecoin market capitalization has grown greater than 22% this month to about $640 million, however its native stablecoin USDG has been transferring sideways between $330 million and $350 million.
Forecast Development Report by Interval
Robinhood Chain’s whole worth locked, or TVL, has surged greater than 45% to this point in August, even as the share of tokenized real-world property, or RWA, as soon as touted as the chain’s core use case, has narrowed sharply.
Crypto media outlet The Block reported on August 17 that Robinhood Chain’s TVL has climbed above $540 million, setting a document excessive. Over the identical interval, tokenized real-world property on the chain rose 120% from a month earlier to $32 million.
The distinction in progress charges is placing. Tokenized real-world property accounted for about one-third of whole TVL as of July 7, however now make up simply 6%, The Block reported. Meaning TVL has grown about seven occasions sooner than tokenized real-world property because the chain launched, diverging from Robinhood’s push to place tokenized shares as the chain’s major use case.
The chain’s stablecoin market has additionally expanded quickly. Stablecoin market capitalization has risen greater than 22% this month to about $640 million. Of that whole, Ethena’s USDe accounts for $286 million, or 44%, up about 50% from early August.
In contrast, progress in Robinhood Chain’s native stablecoin USDG has stalled. USDG made up 92.7% of provide in the chain’s first week after launch, however has since moved sideways in a spread of $330 million to $350 million.
