Robinhood’s layer 2 blockchain, Robinhood Chain, launched on July 1 and the amount of Ethereum bridged to it topped $70 million in the first week.
Cointelegraph reported on July 10 that Robinhood Chain recorded a large inflow of ether immediately after launch.
Robinhood Chain is an Arbitrum-based, Ethereum Virtual Machine-compatible layer 2 network and uses ETH as its native gas token. Robinhood said the network is designed to be AI-native and for real-world assets.
Token Terminal said the amount of ether bridged to Robinhood Chain topped $70 million in the first week. Daily active users were 194,000 and daily revenue was tallied at $39,000. Annualised, that is about $14 million. If adoption continues, Robinhood Chain could become a meaningful new source of demand for ETH, Token Terminal said.
Robinhood provides tokenised stocks to customers in more than 120 countries. As demand for tokenised U.S. stocks grows, Ethereum and layer 2 networks account for more than 50 percent of the tokenised real-world asset market.
Chi-gyu Hwang (황치규)
delight@d-today.co.kr