Robinhood Chain Overtakes Hyperliquid in Daily Trading Volume One Week After Launch

Robinhood Chain, the permissionless layer-2 network the brokerage launched this month on top of Arbitrum, overtook Hyperliquid in 24-hour decentralized-exchange volume, recording about $433 million against Hyperliquid's $296 million, according to DefiLlama data cited by Cointelegraph. Robinhood built the chain for tokenized stocks, real-world assets, on-chain lending, and what it calls artificial-intelligence-native finance.

The value the network secures climbed to roughly $489 million, a gain of about 337 percent over seven days, the sharpest move among tracked layer-2 networks on L2Beat. The trading also benefited the base layer. The Arbitrum token rose about 19 percent as roughly $568 million in on-chain trading routed through the ecosystem and directed fees to Arbitrum.

The gap between the stated purpose and the observed use is wide. One week in, the dominant driver of retail activity is CASHCAT, a memecoin that reached about $150 million in value, rather than the equities Robinhood promoted. A brokerage-controlled sequencer running a chain described as permissionless also raises the question of how much of the decentralization is structural and how much is branding.