Robinhood Chain’s total value locked has climbed above $540 million, rising more than 45% in August, while its stablecoin market capitalization has reached roughly $640 million.
USDe has emerged as the main growth driver, with supply on the chain rising nearly 50% since the start of August to about $286 million. It now accounts for roughly 44% of Robinhood Chain’s stablecoin supply.
By comparison, USDG, the chain’s dominant stablecoin at launch, has largely stalled at between $330 million and $350 million. USDG represented 92.7% of stablecoin supply during Robinhood Chain’s first week.
Tokenized real-world assets have also grown, increasing 120% month over month to around $32 million. However, their share of total TVL has fallen sharply from nearly one-third on July 7 to just 6% currently.
The data suggests overall capital on Robinhood Chain has expanded roughly seven times faster than tokenized RWAs since launch, despite Robinhood positioning tokenized equities as one of the network’s flagship use cases.
USDe has emerged as the main growth driver, with supply on the chain rising nearly 50% since the start of August to about $286 million. It now accounts for roughly 44% of Robinhood Chain’s stablecoin supply.
By comparison, USDG, the chain’s dominant stablecoin at launch, has largely stalled at between $330 million and $350 million. USDG represented 92.7% of stablecoin supply during Robinhood Chain’s first week.
Tokenized real-world assets have also grown, increasing 120% month over month to around $32 million. However, their share of total TVL has fallen sharply from nearly one-third on July 7 to just 6% currently.
The data suggests overall capital on Robinhood Chain has expanded roughly seven times faster than tokenized RWAs since launch, despite Robinhood positioning tokenized equities as one of the network’s flagship use cases.