SEC frees up the crypto equity stocks—what coins are worth watching next?
HOOD: The brokerage business is moving on-chain, and revenue could see a major breakout. In 63 days, on-chain stock/coin trading volume exceeded 3 billion, covering 190+ assets and 120+ countries. Two key points to watch: (1) the gas subsidy expires at the end of September, and (2) the SEC granted issuers a 30-day veto right.
CRCL: Stablecoins continue to expand, with a 300 billion yuan (or 300B) scale expectation over 3 years. But the core shouldn’t be only USDC’s existing supply. In Q2, circulating volume was 73.3 billion, which actually fell quarter-on-quarter. The real variable is the Arc mainnet: BlackRock, DTCC, and Visa are all validating nodes. The logic shifts from “capturing spread” to “capturing settlement volume.”
PONS: The “brokerage ai” narrative on the Robinhood ecosystem chain—the imagination of the first on-chain casino. Each bet takes 1%, 30% goes to the protocol, and 80% is used to buy back and burn. About 29% has already been burned. But the moat isn’t deep: when volume stops, the flywheel stops too.
UNI: The whole network charges trading fees (“extracting water”). Once the crypto-equity trading volume ramps up, it may bring new incremental demand. The most critical change is that the fee switch finally turned on—cumulative tokens burned: 110 million, with daily averages over $400k. Robinhood Chain contributes nearly half. The v4 permissioned pool lines up perfectly with the SEC’s requirement for a “permissioned AMM.”
Bull is here: In this cycle’s PEPE, meme season has arrived—who wouldn’t want a bull? Pure sentiment-driven; it has nothing to do with the crypto-equity theme line. Don’t mix them together when counting. There are two “bull is here” options in the market—check the contract before buying.
Other names: STONK and AI—put them on the watchlist for now.
ARB: Robinhood Chain uses Arbitrum Orbit. 10% of net revenue is returned to the ecosystem. Cumulative fees: $11.48 million—this is the first time ARB has a cash flow that can actually be calculated.
LINK: Official oracles. It provides price feeds to tokenize 95 tokens; you provide as many feeds as there are stocks. Best position to make the most money selling shovels.
ONDO: 440+ U.S. stock ETFs on-chain. Same-category share exceeds 70%. But overseas products aren’t exempt either, and about 35% of market value will unlock in January 2027. $UNI $PONS $ARB
HOOD: The brokerage business is moving on-chain, and revenue could see a major breakout. In 63 days, on-chain stock/coin trading volume exceeded 3 billion, covering 190+ assets and 120+ countries. Two key points to watch: (1) the gas subsidy expires at the end of September, and (2) the SEC granted issuers a 30-day veto right.
CRCL: Stablecoins continue to expand, with a 300 billion yuan (or 300B) scale expectation over 3 years. But the core shouldn’t be only USDC’s existing supply. In Q2, circulating volume was 73.3 billion, which actually fell quarter-on-quarter. The real variable is the Arc mainnet: BlackRock, DTCC, and Visa are all validating nodes. The logic shifts from “capturing spread” to “capturing settlement volume.”
PONS: The “brokerage ai” narrative on the Robinhood ecosystem chain—the imagination of the first on-chain casino. Each bet takes 1%, 30% goes to the protocol, and 80% is used to buy back and burn. About 29% has already been burned. But the moat isn’t deep: when volume stops, the flywheel stops too.
UNI: The whole network charges trading fees (“extracting water”). Once the crypto-equity trading volume ramps up, it may bring new incremental demand. The most critical change is that the fee switch finally turned on—cumulative tokens burned: 110 million, with daily averages over $400k. Robinhood Chain contributes nearly half. The v4 permissioned pool lines up perfectly with the SEC’s requirement for a “permissioned AMM.”
Bull is here: In this cycle’s PEPE, meme season has arrived—who wouldn’t want a bull? Pure sentiment-driven; it has nothing to do with the crypto-equity theme line. Don’t mix them together when counting. There are two “bull is here” options in the market—check the contract before buying.
Other names: STONK and AI—put them on the watchlist for now.
ARB: Robinhood Chain uses Arbitrum Orbit. 10% of net revenue is returned to the ecosystem. Cumulative fees: $11.48 million—this is the first time ARB has a cash flow that can actually be calculated.
LINK: Official oracles. It provides price feeds to tokenize 95 tokens; you provide as many feeds as there are stocks. Best position to make the most money selling shovels.
ONDO: 440+ U.S. stock ETFs on-chain. Same-category share exceeds 70%. But overseas products aren’t exempt either, and about 35% of market value will unlock in January 2027. $UNI $PONS $ARB