Robinhood: DEX Daily Trading Volume Surpasses $560 Million..."140,000 New Addresses Surge In"

▲ Bitcoin (BTC), Robinhood / ChatGPT generated image

Robinhood Chain is at the center of the memecoin frenzy. Speculative funds are pouring into the network as its daily decentralized exchange (DEX) trading volume surpasses $560 million and approximately 16,000 new tokens flood in.

According to Bitcoin.com, a cryptocurrency media outlet, on July 10 (local time), data shared by on-chain researcher Defioasis showed that Robinhood Chain's daily DEX trading volume exceeded $560 million. Daily active addresses approached 200,000, with over 140,000 classified as first-time transaction addresses.

The memecoin speculation fever has also engulfed the token issuance market. On Robinhood Chain, approximately 16,000 new tokens were launched in just one day, and seven memecoins surpassed a market capitalization of $1 million. Cash Cat emerged as a representative beneficiary token of the recent trading frenzy, breaking the $100 million market capitalization mark.

The surge in Robinhood Chain's transactions is directly linked to Arbitrum ecosystem revenue. Steven Goldfeder, co-founder of Offchain Labs and Arbitrum contributor, stated that the enthusiasm for enterprise blockchain adoption is heating up, and Arbitrum is well-positioned to secure revenue during its growth. 10% of the fees collected from Arbitrum Layer 2 networks, including Robinhood Chain, flow into the Arbitrum ecosystem, with 8% allocated to treasury funds managed by token holders and 2% to development funds.

Pumpfun has also joined the memecoin fever on Robinhood Chain. By supporting the trading of Robinhood tokens on the Pumpfun app, users can now trade popular Robinhood Chain tokens with SOL without the need for a separate bridge. Alon, the founder of Pumpfun, stated, "Our goal is to support whatever traders want, and that includes Robinhood tokens."

Robinhood Chain recorded explosive growth, surpassing $560 million in daily DEX trading volume and approaching 200,000 active addresses. However, Bitcoin.com pointed out that the long-term test will be whether the surge in memecoins can be converted into sustained liquidity, repeat users, and stable fee activity.

[Article Summary]

-Robinhood Chain's daily DEX trading volume surpassed $560 million, and active addresses approached 200,000.

-Approximately 16,000 new tokens were launched in just one day, and seven memecoins with a market capitalization of over $1 million were counted.

-With Pumpfun supporting Robinhood token trading, Solana-based users can now trade with SOL without a separate bridge.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*