Key Takeaways
Robinhood inventory tokens hit 862,800 holders, overtaking Binance bStocks two months after launch.Robinhood Chain reached $1.7B in each day Uniswap quantity and 78.5% of L2 income, boosting onchain clout.Robinhood’s tokenized equities technique might deepen its push into onchain finance.
Robinhood Chain Sees Uniswap Quantity Attain $1.7B Each day
Robinhood’s crypto technique is transferring properly past brokerage buying and selling.
In roughly two months, the corporate has grow to be the biggest issuer of tokenized shares by holder rely. Robinhood inventory tokens now have about 862,800 holders, surpassing Binance bStocks at 827,200, in line with Token Terminal.
That shift is notable as a result of it reveals how shortly a longtime monetary platform can achieve market share as soon as it combines distribution with onchain infrastructure.
Exercise on Robinhood Chain, the corporate’s Ethereum layer-2 community, is accelerating simply as shortly. Each day buying and selling quantity on Uniswap’s deployment reached $1.7 billion, roughly 10 occasions the extent seen two weeks earlier. Cumulative Uniswap quantity on the community has now exceeded $20 billion.
Robinhood Chain Emerges as a Main L2 Income Supply
The income numbers are much more putting.
Robinhood Chain accounted for 78.5% of layer-2 blockchain income over the previous 30 days. It generated about $4.6 million in income in a single day (Sept. 2), implying an annualized run price of roughly $1.7 billion if that tempo had been maintained.
For a community launched solely two months in the past, the size is important.
The expansion additionally displays a broader shift in crypto. Tokenized equities have gotten one of many clearest bridges between conventional finance and blockchain markets, giving traders entry to acquainted property with 24-hour buying and selling and onchain settlement.
Robinhood’s benefit is distribution. It already has a big consumer base, and its tokenized inventory enterprise offers these prospects a direct route into blockchain-based markets with out ranging from scratch on a crypto-native platform.
Vlad Tenev Stays Bullish on Bitcoin
Robinhood co-founder and CEO Vlad Tenev stays equally bullish on bitcoin, whilst the corporate expands into tokenized shares and different crypto merchandise.
In an interview with The Iced Espresso Hour, Tenev described bitcoin as troublesome to duplicate due to its historical past and model.
“Bitcoin is singular in quite a lot of methods, which makes it particular,” he mentioned. “You may create plenty of Bitcoin imitators, however no one can ever take the place of being the primary and most trusted.”
Tenev additionally known as Bitcoin the “authentic meme coin” and mentioned it stays the first crypto asset firms think about when constructing treasury methods. Lengthy-term, Tenev stays bullish on bitcoin, stopping in need of making a bitcoin value prediction, saying he couldn’t say whether or not it will attain $1 million.
The larger story is that Robinhood is now constructing round each side of the market: bitcoin as a long-term crypto asset, and tokenized securities because the infrastructure layer which will pull extra conventional finance onchain.
