Robinhood Built a Chain for Stocks. Memecoins Now Outearn Ethereum on It

Robinhood Chain apps outearned Ethereum's over 24 hours

Apps on Robinhood Chain earned about $2.66 million over 24 hours. That ranked second only to Solana's $5.07 million and ahead of every other network tracked by DefiLlama. That total was roughly twice what apps on Ethereum brought in and about six times the revenue on Base. The showing marked the busiest day yet for the two-month-old network. App revenue refers to money the applications collect from users, not fees booked by Robinhood as a company.

Three apps produced most of the day's revenue

Most of the total came from a handful of trading tools. GMGN is an app for trading memecoins. Pons lets anyone create and trade a token on the network. Together they generated about $2 million of the $2.66 million. The decentralized exchange Uniswap added roughly $307,000. The three apps supplied about 88% of the chain's app revenue for the day. That concentration means the network's income moves with whatever memecoins traders chase, and it can fade as quickly as it rose.

The chain processed a record 5.52 million transactions

Robinhood Chain handled 5.52 million transactions on 30 August 2026, an all-time high. Trading on decentralized exchanges reached roughly $875 million over the same day, according to onchain data. Its transaction count has climbed from well below one million a day in early July to more than five million. Pons alone saw about 22,600 new tokens launched in a single day, up more than 40% from the day before. Most were speculative coins built in minutes around a joke, an animal, or an internet trend, rather than traditional assets moving onchain.

The daily lead has not held over 30 days

The one-day result did not overturn the longer trend. Over 30 days, Robinhood Chain's app revenue of about $23.23 million still trailed both Ethereum and Hyperliquid, according to DefiLlama. Hyperliquid's 30-day total was more than double the chain's over the same period. Daily revenue can rise sharply during token launches or bursts of concentrated trading, then fall back once the activity fades.

Ether traded near $2,465 at publication

Ether (ETH) is the token of the network Robinhood Chain outearned on the day. It traded at about $2,465 on 31 August 2026, down 1.96% over the past 24 hours (CoinPaprika, 31 August 2026). Solana (SOL), the only chain with higher app revenue, traded near $103, up 7.07% over the past seven days (CoinPaprika, 31 August 2026). Ethereum's market value stood near $297 billion at the time of publication (CoinPaprika, 31 August 2026). Ether remained roughly 50% below its August 2025 record high (CoinPaprika, 31 August 2026).

Robinhood built the chain for tokenized stocks

Robinhood launched the Ethereum-compatible network on 1 July 2026 with tokenized stocks as its flagship use case. The design let traditional assets trade on a blockchain. Within two weeks, memecoins had already taken over much of the trading, and tokenized stocks made up only a small share of activity. The company runs the system that processes the chain's transactions and collects the fees users pay. It has not disclosed how much the chain earns it. Chief executive Vlad Tenev signaled comfort with that outcome when the first memecoin wave hit in July 2026.

"It works great for memes too", July 2026. — Vlad Tenev, Chief Executive Officer, Robinhood

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