Robinhood Chain Flips Hyperliquid in DEX Volume amid RWA, DeFi, CASHCAT Buzz
Highlights
- Robinhood Chain surpasses Hyperliquid in 24-hour DEX volume.
- Santiment highlights massive demand for the chain due to RWA, DeFi, and CASHCAT buzz.
- CEO Vlad Tenev sparked massive hype since announcing meme coins suitability and gas waiver.
Robinhood Chain overtook Hyperliquid in 24-hour decentralized exchange (DEX) volume, processing more than $560 million over the past 24 hours.
Robinhood Chain is a permissionless, AI-native Layer 2 blockchain built for financial services and real-world assets (RWA), but it’s in the buzz for meme coins, including Cash Cat. CASHCAT price has skyrocketed by almost 60%.
Robinhood Chain Overtakes Hyperliquid in 24-hour DEX Volume
According to DefiLlama data, Robinhood Chain recorded almost $433 million in 24-hour DEX volume. The newly launched Ethereum Layer-2 blockchain has now flipped popular Hyperliquid.
Robinhood Chain has climbed to fifth place based on the DEX volume by Chain metric, with almost $900 million in 7-day DEX volume. Meanwhile, Hyperliquid saw $296 million in 24-hour DEX volume, with $656.28 in total DEX volume in the past 7 days.
The milestone comes just one week after Robinhood Chain’s mainnet launch on the Arbitrum Orbit stack. In its debut week, the Layer-2 chain amassed nearly $1 billion in cumulative DEX volume, around $100 million in TVL, and more than 350,000 addresses.
Moreover, Token Terminal data also shows ETH bridged from Ethereum L1 to Robinhood Chain is up 70x in one week, passing $70 million. The chain uses ETH as gas.
Catalysts Behind the Massive Demand
Santiment reported that Robinhood Chain is buzzing amid RWA tokenization, DeFi tools, and CASHCAT mania. “Bulls see a TradFi-to-DeFi bridge, while skeptics question stock-token rights and lasting demand,” it added.
The primary catalyst behind the surge is hype by CEO Vlad Tenev. He took to X, saying “While we’re building robinhood chain to be the best chain for RWA … it works great for memes too.”
He also declared “Robinhood Summer is here” as the chain acts as a bridge between retail brokerage and on-chain trading. Robinhood also covers gas fees for eligible users via its Wallet until September 29.
As traditional brokerages increasingly eye blockchain integration, investors interested in equity-backed tokens can review the best exchanges for tokenized stocks to trade fractionalized shares on-chain.
Cash Cat (CASHCAT) price rocketed more than 1000% in just the last 3 days amid the hype. The meme coin named after Robinhood’s early days mascot jumped nearly 60% in past 24 hours, currently trading at $0.1455.
Lookonchain reporting a wallet (0x6f5b) named “Ansem-2” spent $233K to buy 2.79 million CASHCAT was another catalyst. The wallet is linked to the Solana wallet CLM6E4, which held 10.5 million ANSEM, sparked speculation of ANSEM buying CASHCAT.
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