Robinhood Chain posted a record $989 million in single-day decentralized exchange volume, with total value locked and stablecoin supply also hitting new highs. Utility and infrastructure tokens are now driving the growth that memecoins led just a month earlier.
Robinhood Chain recorded a record $989 million in single-day DEX trading volume on Friday. The Arbitrum-powered network launched on July 1, so the milestone arrives barely two months into its life.
Total value locked on the chain reached a record $708 million, a near 100% month-over-month increase. Stablecoin supply climbed to roughly $770 million, up 47% from the prior month.
Utility tokens overtake memecoins
In July, memecoin activity dominated the chain, capped by the run-up and eventual Robinhood spot listing of CASHCAT. That balance has since shifted. Tokens tied to utility and infrastructure have drawn the most attention and volume in August.
The clearest example is PONS, whose market cap grew from $20 million to more than $200 million this month alone. The chain's other major launchpad, LONG, facilitates tokens paired against tokenized stocks, a feature that remains Robinhood Chain's key differentiator. Other utility projects, including the liquidity-layer protocol Delta, the ve(3,3) emissions project UP, and the OHM-style bonding project NetNet, have all seen their valuations grow tenfold in August.
Stock-paired memecoins are part of that same trend. The token "Artificial Inu," paired against tokenized NVDA, grew from a $1.5 million market cap on August 1 to a peak of $135 million on August 30, and memecoins paired against tokenized stocks now account for roughly a quarter of all stock-linked trading volume on the chain.
Uniswap handles most of the flow
The order flow behind the volume still runs through familiar infrastructure. On the chain's biggest day, Uniswap's v4 deployment accounted for $432 million of the volume and v3 contributed another $357 million, together handling roughly 90% of all DEX activity. Pons facilitated over 22,600 token mints in a single day, adding to the speculative volume.
Tokenized real-world assets add another layer. Tokenized RWA trading hit a daily record of $85 million on August 25, led by tokenized shares of Nvidia and Apple. By mid-August, cumulative DEX volumes on the chain had already surpassed $47 billion.
Sources: The Block, Crypto Briefing
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