Robinhood Chain Surpasses 38.72 Million Transactions 10 Days After Launch

Robinhood Chain, the brokerage's proprietary blockchain, is gaining traction quickly. The network recorded more than 38 million transactions within 10 days of its launch.

Digital-asset analyst ai Yi wrote on X on July 11 that Robinhood Chain's cumulative transaction count had surpassed 38.72 million, including 12.11 million transactions in the past 24 hours alone. Such on-chain activity just 10 days after launch is unusual for a new chain during a bear market, the analyst added.

Growth driven by meme coins was particularly notable. CASHCAT, a meme coin on Robinhood Chain, has surpassed a $200 million market capitalization, according to the post.

Ai Yi said Robinhood, which has the largest retail-investor base in the US, is showing strength in attracting user interest. The analyst added that Robinhood Chain is also succeeding in expanding its early ecosystem.