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Robinhood Chain Launch Boosts ETH Up 15%
Deep Tide TechFlow message: On July 16, according to Cointelegraph, after the Ethereum Layer 2 network Robinhood Chain—launched by Robinhood based on Arbitrum—went live on July 1, it quickly became one of the most active rollups. In the first two weeks, the bridged ETH exceeded $141 million, and more than 500k wallets held ETH. Over 24 hours, DEX trading volume surpassed Ethereum mainnet and Coinbase’s Base.
Driven by this, the ETH price rose from $1,582 on July 1 to $1,825 on July 13, an increase of about 15%. However, the key point of market controversy is whether the growth of the L2 network can translate into demand for ETH assets. Currently, only about 0.6% of the Gas fees generated by Robinhood Chain flows back to the Ethereum mainnet, and the value accumulation mechanism still needs to be validated.