Robinhood Chain launched two weeks ago with a TVL surpassing $135 million, and meme coin trading far exceeds RWA.

BlockBeats News, July 13th. Robinhood, which launched the Ethereum Layer2 network Robinhood Chain on July 1st, has seen its Total Value Locked (TVL) surge to around $135 million in less than two weeks. The total number of active addresses has approached 800,000, with a daily transaction volume of 3.6 million, making it one of the most active new public chains in the crypto market.

However, the actual on-chain usage has significantly deviated from its "tokenized stock" positioning. Currently, the on-chain Tokenized Real World Assets (RWA) is only about $12.81 million, with tokenized stocks accounting for about $10.68 million. Meanwhile, the meme coin CASHCAT, named after Robinhood's former mascot, has surged by as much as 2158% in the past 7 days, with a market cap of $156 million, far exceeding the on-chain RWA scale and triggering a wave of Robinhood-themed meme coins.

Data shows that the stablecoin market cap on the Robinhood Chain is approximately $299 million, with Robinhood's issued USDG accounting for about $200 million. Robinhood CEO Vlad Tenev had previously stated that the company's long-term goal is still to build RWA infrastructure but also acknowledged that "this chain is also very suitable for meme coin trading."