Robinhood Chain Launches on Mainnet, Memecoin Trading Tops $500M Daily Volume

Robinhood Chain launched on mainnet in July as an Ethereum-compatible Layer 2 network built using Arbitrum Orbit. Originally designed to bring tokenized real-world assets onchain, the network quickly became a memecoin hotspot. Daily trading volume briefly topped $500 million as speculators rushed into newly launched tokens, with CASHCAT climbing beyond $100 million in market capitalization.

CEO Vlad Tenev acknowledged the trend yesterday on X, stating that while Robinhood Chain was built for real-world assets, it also worked well for memes. The shift in tone reflects a willingness to embrace speculative activity as a path to attract users and liquidity, similar to Solana's experience with BONK following the FTX collapse.