Written by: Gandalf, Techub News
Introduction
In 42 days, the TVL surged from 100 million to 1 billion dollars, daily DEX trading volume climbed from 560 million to 1.3 billion, with nearly 18 billion dollars traded throughout August, and over 4 million dollars in daily revenue on September 4 crowned it atop the entire chain—The Seoul Economic Daily attributes the growth over these two months to one thing: Meme coins. This article draws a line through all the key data from Robinhood Chain’s two months since launch and points out the disconnection behind the numbers: out of two million monthly active users, only a single-digit percentage holds tokenized stocks.
Key Points
- TVL: 1 million crossed on 7/11 → 600 million crossed on 7/29 → 1 billion crossed on 8/22; lending deposits 790 million, loans 351 million
- DEX: daily 560 million → 690 million → 875 million → 1.3 billion dollars; cumulative over 25 billion on 8/26; nearly 18 billion in August
- Revenue: daily application revenue on 8/31 reached 2.66 million, surpassing Ethereum and Hyperliquid; daily revenue over 4 million on 9/4 ranked first across all chains
- Meme weekly trading volume rose 156% in one month: 1.4 billion at the beginning of August → 3.5 billion by the end of August (according to The Seoul Economic Daily)
- Disconnection: with 2 million monthly active users, only 74,000 are token holders of Nvidia—scale is real, but the assets are not what was designed
Setting aside the narrative disputes, the data Robinhood Chain generated in its two months of operation deserves a look on its own. Its growth curve is uncommon in L2 history.
Image Source: Seoul Economic Daily (September 5, 2026)
TVL: From 100 million to 1 billion in 42 days
On July 11, 2026, Robinhood Chain's TVL broke 100 million dollars. On July 29, the total amount of assets deposited on the chain surpassed 600 million dollars. The Galaxy research report on August 4 recorded a figure in the range of 300 million dollars. On August 14, Standard Chartered's research indicated this chain’s TVL was nearing 1 billion dollars; on August 20, deposit amounts broke 790 million dollars; finally, on August 22, TVL officially surpassed 1 billion dollars.
The lending side expanded simultaneously. Data from August 19 indicated that in less than two months since launch, this chain's deposits exceeded 790 million dollars, with loans reaching 351 million dollars. The market value of stablecoins increased from 270 million on July 11, to 400 million on July 26, reaching 640 million dollars by August 19, growing over 22% within the month.
DEX Trading Volume: Daily from 560 million to 2 billion
The rise in trading volume has been even steeper. On July 9, daily trading volume surpassed 560 million dollars, on July 11 it broke 690 million dollars, and on July 16, daily DEX trading volume exceeded Ethereum. By August 26, cumulative DEX trading volume exceeded 25 billion dollars.
On August 31, daily DEX trading volume reached 875 million dollars, setting a new historical high; on September 2, it hit another high of over 1.3 billion dollars, with UNI rising 16.5% on the same day; on September 4, Uniswap alone on this chain had daily trading volume nearing 2 billion dollars. The trading volume for all of August was nearly 18 billion dollars.
Revenue: Once Exceeded Ethereum
The most telling aspect is revenue. On August 31, Robinhood Chain's 24-hour application revenue reached 2.66 million dollars, exceeding Ethereum and Hyperliquid L1. On September 2, its daily gas fees surpassed Solana, Base, and Ethereum. On September 4, daily revenue exceeded 4 million dollars, ranking first across all chains.
According to statistics compiled by @BenCryptoShow on X, over the past 30 days, Robinhood Chain ranked second in total revenue across all chains and fifth in DEX trading volume, having already passed the hurdle that sees most new chains and Meme ecosystems falter after one month of operation.
Uniswap is the Biggest Beneficiary
The economic benefits of this chain are highly concentrated on Uniswap. On July 21, Uniswap generated 18 million dollars in LP fees on Robinhood Chain; on August 22, its volume of tokenized stock trading on this chain first broke 1 billion dollars; statistics from September 3 showed that 66% of this chain's trading fees for the entire month of August were taken by Uniswap.
Conversely, Robinhood Chain also became a key growth source for Uniswap. Data from September 3 showed that when excluding Ethereum, Base topped the total locked value distribution at 41%, while Robinhood Chain accounted for 13%.
But User Numbers and Asset Structure Don’t Match
On July 26, Robinhood Chain's monthly active users surpassed 2 million, with a weekly increase of 50%. In the same period, the number of tokenized stock holders was significantly smaller—over 40,000 on July 12; by August 29, holders of Nvidia tokens on this chain reached 74,000.
In other words, out of two million monthly active users, only a single-digit percentage truly holds stock tokens. The scale of this chain is real, but the assets supporting that scale are not the same class as those it initially intended to support.
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