Robinhood Chain beats Ethereum in daily revenue as memecoin trading takes over
Robinhood Chain has surpassed Ethereum in daily app revenue, largely fueled by a surge in speculative memecoin trading. Despite its initial goal of tokenizing traditional assets, the network has become a hub for high-frequency, joke-based token activity.
Why it matters
The shift highlights the dominance of speculative retail activity over institutional use cases in current blockchain network adoption.
Apps on the chain earned about $2.66 million over 24 hours, second only to Solana's $5.07 million and ahead of every other network, DefiLlama data shows. That is twice what apps on Ethereum brought in and six times those on Base. App revenue refers to money those applications earn from users, not revenue collected by Robinhood itself.
The blockchain processed 5.52 million transactions on Aug. 30, an all-time high, while trading on decentralized exchanges reached roughly $875 million, according to onchain data .
Those are venues where trades happen directly between users without a company holding the money. Uniswap, the largest of them, accounted for most of the total, with about $432 million through its newest version and another $357 million through the previous one.
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