Robinhood Chain Tops Ethereum in Daily App Revenue as Memecoin Activity Surges

According to BlockchainReporter, Robinhood Chain recorded its busiest day since launch, generating approximately $2.66 million in daily application revenue over a 24-hour period. This figure placed the two-month-old blockchain ahead of Ethereum and behind only Solana, according to DefiLlama data cited in the report.

The network processed 5.52 million transactions on August 30, reaching an all-time high, while decentralized exchange trading hit roughly $875 million. The activity was driven primarily by memecoin tools such as Pons and GMGN, along with Uniswap, which together accounted for about 88 percent of the total application revenue. Pons saw approximately 22,600 new tokens launched in a single day.

While Robinhood launched the network on July 1 with tokenized stocks as its flagship use case, speculative memecoin trading quickly overtook much of the volume. Chief Executive Vlad Tenev stated in July that the network works well for memes while real-world assets remain a longer-term focus. Executives reported on a July earnings call that Robinhood collects a few basis points on each transaction, though the company has not disclosed the chain's own revenue.