Robinhood Chain Records $365.57 Million Market Cap for Meme Coins

The market cap for meme coins on Robinhood Chain has been recorded at $365,574,783. Robinhood launched the Robinhood Chain mainnet and stock tokens on July 1. Robinhood Chain is designed as an Ethereum Layer 2 based on the Arbitrum platform, and stock tokens are available in over 120 countries. According to DeFi Llama, the total deposits on Robinhood Chain amount to $544,483,000, with a stablecoin market cap of $638,970,000. RWA Active Mcap stands at $121,300,000, and the 24-hour DEX trading volume is $265,820,000. Data from CoinGecko shows that the 24-hour trading volume in the meme coin category is recorded at $44,594,764, with more than five meme coins exceeding a market cap of $10 million. The initial trading demand on Robinhood Chain spans both meme coins and RWAs, with meme coins creating liquidity first due to their high trading speed and accessibility. Chainlink has been tasked with providing the oracle infrastructure for Robinhood stock tokens, and 0x has also announced support for Robinhood Chain. Currently, Robinhood Chain has started as a financial chain, but the asset class that moved first in the market is meme coins.

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