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▲ Robinhood (HOOD)/AI generated image
More than $150 million has poured into Robinhood Markets Inc. (HOOD) trust accounts since their launch in August.
According to social investment platform Stocktwits on September 4 (local time), CEO Vlad Tenev announced via X (formerly Twitter) that over $150 million in customer funds had flowed into trust accounts. The average account size is approximately $500,000. Robinhood's stock price recently closed up more than 16% in regular trading amid a rally.
Robinhood trust accounts are securities accounts opened in the name of a revocable living trust. Trustees can manage stocks, options, and more as part of their inheritance and gift planning. Tenev stated, "Robinhood started as a service for the generation just beginning to invest," adding, "Now, as our customers build wealth, their financial needs are also growing." He emphasized, "We want to support our customers throughout their entire financial lives."
The blockchain business is also rapidly expanding. Robinhood Chain is an Ethereum (ETH) Layer 2 blockchain built on Arbitrum technology. Within two months of its launch, it recorded a cumulative decentralized exchange (DEX) trading volume of $34.6 billion and a Total Value Locked (TVL) of $1.27 billion. The cumulative number of transactions reached 576 million, and the number of addresses reached 12.3 million.
More than 190 stock tokens are traded on Robinhood Chain. The cumulative DEX trading volume of stock tokens has exceeded $3 billion. Perpetual futures trading volume on Lighter also reached $7.29 billion. Robinhood stated, "We thank all the users and developers behind these figures."
Early investor, internet entrepreneur, and angel investor Jason Calacanis revealed that he has not sold a single share of Robinhood. He stated, "I invested in HOOD at $10 and haven't sold a single share since the initial investment," setting a target price of $1,500 for 2036. Retail investor sentiment on Stocktwits jumped from 'neutral' to 'extremely bullish,' and the number of related messages increased by over 200% in 24 hours.
[Key Article Summary]
-More than $150 million in customer funds have flowed into Robinhood (HOOD) trust accounts since their launch in August, with an average account size of approximately $500,000.
-Robinhood Chain recorded a cumulative DEX trading volume of $34.6 billion and a Total Value Locked of $1.27 billion within two months of its launch.
-Robinhood's stock price recently rose by over 16% in regular trading, and retail investor sentiment on Stocktwits also jumped to 'extremely bullish.'
*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.*
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