Robinhood Chain Overtakes Ethereum in Daily Revenue as Memecoins Flood the Network

Robinhood Chain hit its busiest day since launch on August 30, handling 5.52 million transactions and pulling in about $2.66 million in app revenue within 24 hours, placing it just behind Solana and ahead of Ethereum and Base.

Token Launches Dominate the Network

Despite being designed for tokenized stock trading, the chain’s biggest driver was a token creation tool, which saw 22,600 new tokens launched in a single day. Most were speculative memecoins rather than assets tied to real businesses.

Decentralized exchange trading on the network reached nearly $875 million, with one major exchange handling the bulk of that volume. A trading tool, the launchpad, and that exchange together generated most of the network’s earnings.

Launched July 1 with tokenized stocks as its main goal, the network quickly became dominated by memecoin speculation, a trend that has grown alongside the broader crypto market rally.