Robinhood Chain TVL Reaches $325 Million as Trading Activity Slows
Robinhood Chain has accumulated approximately $325 million in total value locked less than one month after its mainnet launch, with TVL increasing every day since the network went live.
However, trading and user activity have weakened since peaking during the chain’s second week. Decentralized exchange volume averaged $553 million per day last week, down 27% week over week, while daily active accounts fell 7% to around 275,000.
The network’s turnover ratio, calculated by dividing DEX volume by TVL, declined from 9.25 times in the second week of July to 1.68 times by last Friday. The drop suggests capital is entering Robinhood Chain faster than it is being actively traded.
Much of the recent inflow may be driven by Robinhood Earn, which offers an estimated 7% annual yield on USDG. Average trading volume per active account also fell to about $2,000 from a peak of approximately $2,800 two weeks earlier.
Robinhood Chain’s initial surge in activity was partly fueled by a brief memecoin wave following comments from CEO Vlad Tenev. CASHCAT, a token named after Robinhood’s original mascot, rose as much as 962% in one day before gradually declining.
Investors will be watching Robinhood’s second-quarter earnings for updates on the chain’s early performance and its longer-term focus on tokenized real-world assets.
Robinhood Chain has accumulated approximately $325 million in total value locked less than one month after its mainnet launch, with TVL increasing every day since the network went live.
However, trading and user activity have weakened since peaking during the chain’s second week. Decentralized exchange volume averaged $553 million per day last week, down 27% week over week, while daily active accounts fell 7% to around 275,000.
The network’s turnover ratio, calculated by dividing DEX volume by TVL, declined from 9.25 times in the second week of July to 1.68 times by last Friday. The drop suggests capital is entering Robinhood Chain faster than it is being actively traded.
Much of the recent inflow may be driven by Robinhood Earn, which offers an estimated 7% annual yield on USDG. Average trading volume per active account also fell to about $2,000 from a peak of approximately $2,800 two weeks earlier.
Robinhood Chain’s initial surge in activity was partly fueled by a brief memecoin wave following comments from CEO Vlad Tenev. CASHCAT, a token named after Robinhood’s original mascot, rose as much as 962% in one day before gradually declining.
Investors will be watching Robinhood’s second-quarter earnings for updates on the chain’s early performance and its longer-term focus on tokenized real-world assets.