Robinhood Chain’s rapid rise sparks anxiety among competitors as several major projects in the Base and Solana ecosystems signal a clear shift.

BlockBeats news, on July 12, Robinhood Chain launched its mainnet on July 1. Technically, this network is an Ethereum L2 based on Arbitrum Orbit. In terms of direction, Robinhood officially stated that the network will focus on on-chain finance, tokenized RWA (such as stock tokens NVDA, AAPL, etc.), DeFi, and AI native applications.

However, similar to the rise of Base and Solana, Robinhood Chain’s aim to attract crypto-native capital and projects has clearly relied on a wildly popular meme coin as an entry point, and they have indeed achieved it.

On the 8th, Robinhood CEO Vlad Tenev spotlighted the meme coin CASHCAT, setting off a frenzy of speculation on Robinhood Chain. As of press time, DEX trading volume in the past 24 hours has exceeded $877 million, ranking second across all chains. Over the past week, DEX trading volume reached over $2.3 billion, second only to BSC’s $4.65 billion, ranking fifth overall. Such rapid growth during a deep bear cycle in crypto is truly miraculous for Robinhood Chain, which has been live for just under two weeks.

The migration of funds to Robinhood Chain has also been swift. Over the past week, the amount of ETH bridged from Ethereum mainnet to Robinhood Chain has increased by about 10 times, now exceeding $100 million.

Beyond money and sentiment, the shift of project teams has triggered even greater anxiety among competitors. In the two weeks since Robinhood Chain’s launch, several mainstream projects from the Base and Solana ecosystems have turned to support it, including but not limited to Bankr (Base ecosystem token protocol), Bags and pump.fun (Solana ecosystem token platforms), as well as RWA perpetual DEX GMTrade. Furthermore, the prediction market platform world, which had received massive promotion within the Solana ecosystem, announced its migration to Robinhood Chain immediately after its launch.

BlockBeats believes that the meme trading frenzy could cool down at any moment, but Robinhood Chain’s vision for “on-chain finance” is more worthy of anticipation. After the meme phase, investors should pay closer attention to developments in DeFi, tokenized stocks, and VC tokenization on this network—perhaps the origin of the next crypto bull market will be found on Robinhood Chain.