Robinhood Chain, a Layer-2 network launched on July 1, has generated 17,171 ETH, worth approximately $42.58 million, in just 70 days of operation, representing roughly $608,000 in daily revenue. The chain has at times surpassed Ethereum itself in daily app revenue, peaking at $2.66 million on its best day. Contrary to its initial positioning around tokenized stocks and real-world assets, the bulk of revenue comes from memecoin activity, particularly through a launchpad called Pons and trading tools like GMGN. Robinhood keeps approximately 90% of generated fees, or $38.32 million, while Arbitrum receives the remaining 10%. Research firm Bernstein projects these revenues could reach around $160 million annually by 2028 and maintains an Outperform rating on Robinhood stock with a $160 price target.
Source: Read the original article
