Robinhood Chain growth hits $540M, but stablecoins-not stocks-drive it

Robinhood Chain growth accelerated sharply in August, with the network’s total value locked pushing past $540 million even as the tokenized stock market it was built to showcase shrank to a sliver of that total. The numbers, first reported by CoinCentral, paint a picture of a blockchain finding its footing — just not in the way its architects originally pitched it.

Key takeaways

• Robinhood Chain’s total value locked rose over 45% in August to more than $540 million.
• Tokenized real-world assets grew 120% month-over-month to $32 million, but now account for just 6% of total TVL, down from nearly a third in early July.
• The stablecoin market cap on the chain hit roughly $640 million, up more than 22% for the month.
• Ethena’s USDe jumped nearly 50% to $286 million, capturing 44% of all stablecoins on the network.
• Robinhood’s own stablecoin, USDG, stayed stuck between $330 million and $350 million throughout August.

Robinhood Chain’s Total Value Locked Surges in August

Robinhood Chain’s total value locked climbed above $540 million this month, a jump of more than 45% that marks one of the network’s strongest stretches since launch. That expansion has been driven overwhelmingly by activity outside the chain’s original headline feature, according to data cited by CoinCentral.

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