Robinhood Chain hits record $989 million in daily DEX volume as TVL grows

Robinhood Chain notched a record $989 million in single-day decentralized exchange volume on Friday, according to data from The Block, as the network's activity shifted away from memecoin speculation toward infrastructure and utility tokens.

Total value locked on the chain reached a record $708 million, roughly doubling month over month. Stablecoin supply on Robinhood Chain stands at about $770 million, a 47% increase from a month earlier.

A shift from memecoins to utility

The mix of projects drawing volume has changed notably between July and August. July was dominated by memecoin beta, following the run in CASHCAT and its eventual spot listing on Robinhood. In August, attention and trading activity moved toward tokens tied to utility and infrastructure.

The clearest example is PONS, one of the chain's most dominant launchpads, whose market cap expanded from $20 million to more than $200 million during the month alone.

The chain's other leading launchpad is LONG (long.xyz), which supports tokens — mainly memecoins — paired against tokenized stocks, a feature that remains Robinhood Chain's key differentiator. The largest stock-paired memecoin on the network launched through LONG: a token ticker "AI," short for Artificial Inu, paired against tokenized NVDA. AI grew from a $1.5 million market cap on Aug. 1 to a peak of $135 million on Aug. 30, and its NVDA pool now holds roughly $3.3 million of liquidity — more than triple the depth of its WETH pool. Memecoins paired against tokenized stocks account for around a quarter of all stock-linked trading volume on the chain.

Other utility-oriented projects also posted sharp gains in August. Delta, a liquidity-layer protocol, UP, a ve(3,3) emissions project comparable to Aerodrome on Base, and NetNet, an OHM-style bonding project, each multiplied their valuations tenfold during the month.