Robinhood’s blockchain triples in size since mid-July, but memecoins are doing the heavy lifting

Robinhood Chain, the company’s Ethereum Layer-2 network built on the Arbitrum Orbit stack, has seen its total value locked roughly triple since mid-July to approximately $312 million, according to DefiLlama. Some reports peg the figure even higher, near $450 million. Either way, the growth trajectory is steep, and the network is already ranking among the top five chains by decentralized exchange volume, according to analysts at Bernstein. The assets driving that growth are not exactly what Robinhood had in mind when it pitched the chain as a hub for tokenized real-world assets like stocks and ETFs. Memecoins first, equities later Robinhood Chain launched its public mainnet on July 1, 2026, promising roughly 100-millisecond block times and 24/7 trading of tokenized securities woven into decentralized finance protocols. Tokenized real-world assets accounted for only about $12.8 million of the chain’s TVL as of mid-July, roughly 4% of total activity. Memecoins and stablecoin trading have dominated the rest. DEX trading volume hit $3.1 billion in just the first week of operation, a number driven overwhelmingly by speculative assets rather than tokenized equities. The network’s address ...