Robinhood Chain Hits $989M in Cryptocurrency Trading Volume

Cryptocurrency trading on Robinhood Chain hit an all-time high on Friday, August 29. The network actually recorded $989 million in single-day DEX trading volume, a new record. It wasn’t the only record the network set that day, either. Robinhood Chain TVL also climbed to $708 million, close to double what it was just a month before. Stablecoin supply on the chain grew too, adding 47% month-over-month to reach around $770 million. Right now, memecoin hype is driving less of this cryptocurrency trading, while projects that actually do something are driving more of it, and that’s part of why crypto trading volume is higher across the board.

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Cryptocurrency Trading Surges As Robinhood Chain TVL Climbs

Back in July, cryptocurrency trading on Robinhood Chain was mostly a memecoin thing, tied to the run-up around CASHCAT and its eventual Robinhood spot listing. Things have changed some since then. A launchpad called PONS has seen its market cap go from $20 million to over $200 million in about a month, which is a pretty big jump, even by crypto standards. It’s a big reason why DEX trading volume on the chain has climbed so fast. Another launchpad, LONG (long.xyz), went a different way. Traders have used it mainly for memecoins paired against tokenized stocks, and that’s turned into one of Robinhood Chain’s bigger selling points right now.

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