Robinhood Chain Surpasses Ethereum in Daily Revenue as Memecoin Activity Surges

Robinhood Chain recorded its busiest day since launching, with 5.52 million transactions processed on Aug. 30 as users created roughly 22,600 tokens and memecoin-focused applications generated much of the network’s activity.

The two-month-old blockchain is increasingly being driven by speculative token trading rather than the tokenized stocks that were central to its original pitch.

Applications operating on Robinhood Chain generated approximately $2.66 million in revenue over 24 hours, according to DefiLlama. That placed the network second behind Solana, whose apps generated about $5.07 million, while Ethereum-based applications brought in roughly half as much and Base generated about one-sixth.

The figures represent revenue earned by applications from their users rather than income collected directly by Robinhood.

Onchain data shows that Robinhood Chain processed a record 5.52 million transactions on Aug. 30. Decentralized exchanges on the network also recorded approximately $875 million in trading volume.

Uniswap accounted for the largest share of that activity. Its latest version processed around $432 million, while the previous version handled another $357 million.

Token creation was another major source of activity. Pons, a Robinhood Chain application that allows users to create and trade tokens directly through their crypto wallets, recorded about 22,600 new tokens in one day. That represented an increase of more than 40% from the previous day.

Many of these newly created assets are highly speculative memecoins rather than tokenized stocks or other traditional financial products. Pons listings include animal-themed coins and tokens built around rapidly changing internet jokes, trends and market narratives.

Three applications — GMGN, a memecoin trading platform, along with Pons and Uniswap — generated roughly 88% of Robinhood Chain’s total app revenue during the period.

Robinhood launched the Ethereum-compatible blockchain on July 1, positioning tokenized stocks as its primary use case. The network was designed to allow traditional financial assets to be represented and traded onchain.

However, memecoin activity became prominent almost immediately. Within weeks of launch, trading in speculative tokens had already overtaken much of the network’s activity, while tokenized stocks accounted for a relatively small portion of assets being traded.

The trend has strengthened as the broader crypto market has rallied. Cash Cat, one of Robinhood Chain’s larger memecoins, more than doubled during the week through Aug. 25 as traders increasingly moved toward smaller and more speculative tokens.

Transaction activity has also expanded dramatically. Daily transactions that were well below 1 million during the network’s early July period have now climbed above 5 million.

Just two months after launch, Robinhood Chain’s biggest source of activity is no longer primarily tokenized equities. Instead, the network is seeing rapid growth in memecoin creation, decentralized trading and speculative onchain activity.

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