BlockBeats News, July 12. On July 1, Robinhood Chain launched its mainnet. Technically, the network is based on Ethereum L2 technology from Arbitrum Orbit. In terms of development direction, Robinhood's official team has explicitly stated that the network will focus on on-chain finance, tokenized RWAs (such as stock tokens NVDA, AAPL, etc.), DeFi, and AI-native applications.

However, similar to the rise of Base and Solana, Robinhood Chain aims to attract crypto-native funds and projects. An explosively popular meme coin is evidently a quick way to attract attention, and they have indeed achieved it.

On the 8th, Robinhood CEO Vlad Tenev "fired the cannon" for the meme coin CASHCAT. Subsequently, enthusiasm for Robinhood Chain's on-chain activities was ignited. As of the time of writing, the DEX trading volume in the past 24 hours has exceeded $877 million, ranking second on the entire chain. The DEX trading volume in the past week has surpassed $2.3 billion, second only to BSC's $4.65 billion, ranking fifth. In the midst of a deep crypto bear market, such rapid growth is nothing short of a miracle for Robinhood Chain, which has been launched for less than two weeks.

The migration of funds to Robinhood Chain has also been rapid. Over the past week, the amount of ETH bridged from the Ethereum mainnet to Robinhood Chain has increased by approximately 10 times, with a total scale exceeding $100 million.

Aside from funds and emotions, the shift in project teams has triggered more intense competitor "anxiety". Since the launch of Robinhood Chain two weeks ago, several mainstream projects from the Base and Solana ecosystems have explicitly "shifted" their support, including but not limited to the Base ecosystem's coin issuance protocol Bankr, Solana ecosystem's coin issuance platforms Bags, pump.fun, and the RWA perpetual DEX GMTrade. Furthermore, a prediction market platform called world, which had previously received extensive promotion within the Solana ecosystem, has just announced its migration from Solana to the Robinhood Chain.

BlockBeats believes that the meme hype may cool down at any time, but the vision of "on-chain finance" by Robinhood Chain is more worth looking forward to. Beyond the meme, investors may need to pay more attention to the project dynamics on the network in DeFi, stock tokenization, VC tokenization. Perhaps the starting point of the next crypto bull market lies in the birth of the Robinhood Chain.