Robinhood Chain surpassed Hyperliquid in 24-hour decentralized exchange trading volume on July 8, marking an early milestone for the newly launched Ethereum Layer 2. According to DeFiLlama data cited by market reports, Robinhood Chain recorded roughly $560 million to $570 million in daily DEX volume on July 8, exceeding Hyperliquid's 24-hour figure. The surge was driven primarily by speculative memecoin trading, particularly Cash Cat, approximately one week after Robinhood launched the public mainnet of Robinhood Chain, an Ethereum-compatible Layer 2 built using Arbitrum's technology stack.
Robinhood Chain Records $560 Million in 24-Hour DEX Volume
DeFiLlama data cited by market reports showed Robinhood Chain recorded roughly $560 million to $570 million in daily DEX volume on July 8. DeFiLlama's live dashboard later showed Robinhood Chain with more than $400 million in 24-hour DEX volume. The July 8 volume figure briefly placed the chain among the most active DeFi trading venues by volume.
Cash Cat Memecoin Generates Close to $100 Million Trading Volume
Reports pointed to Cash Cat, a WETH-paired memecoin trading on Uniswap, as the largest catalyst for the volume spike. The token reportedly generated close to $100 million in 24-hour trading volume and briefly reached a market capitalization above $100 million. The memecoin activity drew liquidity and arbitrage activity to the new chain.
Robinhood Chain Built Using Arbitrum Technology Stack
Robinhood Chain is an Ethereum-compatible Layer 2 built using Arbitrum's technology stack. Robinhood describes the network as a permissionless blockchain built for financial services and real-world assets. Uniswap is already live on the chain. Robinhood's official launch announcement said Robinhood Chain is intended to provide a turnkey environment for builders and is natively connected to Robinhood's onchain users.
Robinhood Expands Tokenized Stock Access for International Users
The company has been expanding tokenized stock access for international users and building onchain infrastructure. Robinhood's official launch announcement stated that tokenized stocks, 24/7 trading, self-custody and DeFi composability are central parts of its strategy. Robinhood positions crypto as a core part of its global financial-services roadmap.
FAQ
What volume did Robinhood Chain record on July 8?
According to DeFiLlama data cited by market reports, Robinhood Chain recorded roughly $560 million to $570 million in daily DEX volume on July 8. DeFiLlama's live dashboard later showed more than $400 million in 24-hour DEX volume.
Which memecoin drove Robinhood Chain's trading volume spike?
Cash Cat, a WETH-paired memecoin trading on Uniswap, was reported as the largest catalyst. The token reportedly generated close to $100 million in 24-hour trading volume and briefly reached a market capitalization above $100 million.
What technology does Robinhood Chain use?
Robinhood Chain is an Ethereum-compatible Layer 2 built using Arbitrum's technology stack. Robinhood describes it as a permissionless blockchain built for financial services and real-world assets.
