Robinhood Chain topped the charts by DEX volume — ForkLog

# Robinhood Chain tops DEX volume

Within seven days after the launch of its public mainnet, the Robinhood Chain L2 solution processed $3.1 billion in aggregate volume on DEX and entered the top 5 networks by activity in the segment.

DEX segment network turnover. Source: DefiLlama.As of July 13, the protocol ranks third by daily turnover on decentralized exchanges with $808 million, behind only Solana and BNB Chain.

According to Bernstein analysts, around 65,000 users already hold $300 million in stablecoins in the network, and $13 million in tokenized shares.

The total value locked (TVL) in Robinhood Chain DeFi protocols exceeded $100 million.

Robinhood Chain is an Ethereum Layer 2 solution built on Arbitrum. The blockchain is focused on financial services and real-world assets. Large platforms have already been integrated into the ecosystem, including Uniswap, Morpho, Lighter, Chainlink, and BitGo.

In Bernstein, they noted that in the first week, the network’s trading activity was speculative in nature. At the start, turnover was mainly formed by meme coins, and then liquidity began to flow in from traditional crypto traders.

For Robinhood shares (HOOD), analysts maintain a positive rating with a target price of $130. At the time of writing, the company’s shares are trading at $110.

Source: Yahoo.Finance.Let’s recall that in June, Robinhood’s management changed the governance structure and cut headcount by 10%.