BlockBeats News, July 13th. Robinhood, which launched the Ethereum Layer2 network Robinhood Chain on July 1st, has seen its Total Value Locked (TVL) surge to around $135 million in less than two weeks. The total number of active addresses has approached 800,000, with a daily transaction volume of 3.6 million, making it one of the most active new public chains in the crypto market.

However, the actual on-chain usage has significantly deviated from its "tokenized stock" positioning. Currently, the on-chain Tokenized Real World Assets (RWA) is only about $12.81 million, with tokenized stocks accounting for about $10.68 million. Meanwhile, the meme coin CASHCAT, named after Robinhood's former mascot, has surged by as much as 2158% in the past 7 days, with a market cap of $156 million, far exceeding the on-chain RWA scale and triggering a wave of Robinhood-themed meme coins.

Data shows that the stablecoin market cap on the Robinhood Chain is approximately $299 million, with Robinhood's issued USDG accounting for about $200 million. Robinhood CEO Vlad Tenev had previously stated that the company's long-term goal is still to build RWA infrastructure but also acknowledged that "this chain is also very suitable for meme coin trading."