Robinhood Chain Surpasses Hyperliquid in 24-Hour DEX Trading Volume on July 8 With $560M–$570M

According to DeFiLlama data, Robinhood Chain surpassed Hyperliquid in 24-hour decentralized exchange trading volume on July 8, recording approximately $560 million to $570 million in daily DEX volume. The milestone marks an early achievement for the newly launched Ethereum Layer 2 backed by the major U.S. brokerage.

Memecoin speculation drove the surge, with Cash Cat, a WETH-paired memecoin on Uniswap, generating close to $100 million in 24-hour trading volume and briefly reaching a market capitalization above $100 million. The volume spike came roughly one week after Robinhood launched the public mainnet of Robinhood Chain, an Ethereum-compatible Layer 2 built using Arbitrum's technology stack.