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Robinhood plans to bring over 10 million active users into DeFi, but on-chain activity is still dominated by meme coins

WuSaidBlockchainW
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Robinhood plans to bring retail investors into DeFi by leveraging its more than 10 million active users. Robinhood Chain, an Ethereum Layer 2 built on Arbitrum, saw its 24-hour DEX trading volume reach about $878 million on July 12, but early activity was still mainly driven by trading meme coins. Its perpetual contract trading volume was only about $5.9 million, with cross-chain incoming assets of about $734 million, while the actual TVL was around $211 million. Robinhood Chain originally focused on rolling out tokenized RWA such as stocks and ETFs, but the currently active market value of those related assets is only about $12.66 million; the key going forward will be whether speculative activity can be converted into ongoing trading demand for tokenized stocks and on-chain lending needs. (CoinDesk)
HOOD-5.51%
MEME-0.81%
ARB-0.99%
ETH-1.76%
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YieldYogi
· 4h ago
Perpetual futures are only 5.9 million, and retail investors still play spot more—RWA tokenization has a long way to go.
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DEFIFarmer
· 4h ago
Robinhood bringing tens of millions of users into DeFi is a good thing, but if all the activity on-chain is Meme coins, it goes against the goal of tokenizing stocks. We’ll need to see how things are guided afterward.
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SafeMaker
· 4h ago
The data looks good, but the meme market can’t hold out for long.
View OriginalReply0

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