Robinhood Chain’s strong rise has sparked “anxiety” among rival competitors, and multiple mainstream projects in the Base and Solana ecosystems have clearly “switched direction.”

BlockBeats message, July 12. Robinhood Chain went live on the mainnet on July 1. Technically, this network is an Ethereum L2 built on Arbitrum Orbit. In terms of its development direction, Robinhood officials have previously clearly stated that the network will focus on on-chain finance, tokenized RWA (such as stock tokens NVDA, AAPL, etc.), DeFi, and AI-native applications.

However, similar to the “script” behind the rise of Base and Solana, Robinhood Chain wants to attract crypto-native capital and projects to invest, and a meme coin that quickly goes viral and surges is obviously a shortcut door key—and they indeed managed to do it.

On the 8th, Robinhood CEO Vlad Tenev “lit the fuse” with the meme coin CASHCAT, after which the Robinhood Chain ecosystem’s on-chain speculation enthusiasm was fully ignited. As of the time of writing, DEX trading volume over the past 24 hours exceeded $877 million, ranking second across all chains; DEX trading volume over the past week exceeded $2.3 billion, second only to BSC’s $4.65 billion, ranking fifth. In a deep crypto bear market cycle, such rapid development is nothing short of a miracle for Robinhood Chain, which has only been live for less than two weeks.

The migration of funds to Robinhood Chain has been just as fast. In the past week, the amount of ETH bridged from the Ethereum mainnet to Robinhood Chain has grown by about 10 times, with the scale already exceeding $100 million.

Besides money and emotion, the “exit and change of direction” from project teams is even more likely to trigger “anxiety” among competitors. Since Robinhood Chain went live two weeks ago, multiple mainstream projects from the Base and Solana ecosystems have explicitly stated that they are “shifting” support, including but not limited to Base ecosystem issuance protocol Bankr, Solana ecosystem issuance platform Bags, pump.fun, and the RWA perpetual DEX GMTrade. What’s more, world—a prediction market platform that received Solana ecosystem-style “all the stars showing up for publicity”—has just launched and announced that it will migrate from Solana to the Robinhood chain.

BlockBeats believes that the meme speculation boom could cool down at any time, but Robinhood Chain’s vision for “on-chain finance” is even more worthy of expectations. After the meme phase, investors may be better served by paying more attention to the network’s project developments in DeFi, stock tokenization, and VC tokenization, and perhaps the starting point of crypto’s next bull market is born with the emergence of Robinhood Chain.