Robinhood’s weekly DEX volume surges to $10B as its Layer 2 chain climbs DeFi rankings

Robinhood Chain, the company’s Arbitrum-based Layer 2 blockchain, just posted a weekly decentralized exchange volume of roughly $10.47 billion. That’s nearly double what the chain recorded the week prior, and it puts Robinhood’s network in the same conversation as Solana and Ethereum for DEX activity. For a chain that only launched on July 1, that kind of trajectory is, to put it mildly, unusual. What’s driving the volume The short answer: Uniswap and speculation. Uniswap protocols, including versions 3 and 4, account for approximately 77% of all DEX volume on Robinhood Chain. The remaining activity is scattered across launchpad platforms and smaller trading venues. The types of assets being traded tell a revealing story. Memecoins and tokenized equities, including pairs for NVDA and AAPL, make up a significant share of the action. Daily volumes have been oscillating between $1.5 billion and $3.7 billion throughout early September, with the peak hitting $3.7 billion on September 5. Recent 7-day DEX volumes have ranged from $8.2 billion to the current $10.47 billion. The trading flows are predominantly coming from crypto-native participants using trading terminals and active trading...