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It can, but the window is narrowing.
Robinhood Chain is an Ethereum L2 launched on July 1, 2026, based on Arbitrum Orbit. It was originally intended for tokenized U.S. stocks and RWA, but Meme took the traffic instead. The Pons launchpad, CASHCAT, and stock-themed Memes once pushed on-chain DEX volume and fees near the top, prompting Bernstein to turn bullish on HOOD.
TVL has recently fluctuated between approximately $700 million and $1.5 billion, depending on the measurement method; tokenized stocks grew from around $10 million to approximately $140 million, showing that the core business is growing, but it remains far smaller than the casino segment.
Continuing to go all-in on Memes and treating it as a Solana substitute is becoming a lower-probability bet.
If you play, control your position size and treat September 29 as an event date, not an excuse for indefinite continuation.
More worth monitoring is whether daily active users can retain 60% of their post-subsidy peak, whether liquidity in tokenized stocks remains, and whether real TVL on Uniswap and Morpho will withdraw.
The chain itself has no independent token, so more of the value lies in HOOD stock, ETH/ARB, PONS, and a few leading Memes. Do not directly translate “the chain is hot” into “anything you buy will go up.”$PONS