Crypto▲ Bullish
Robinhood Chain TVL Tops $540M as Stablecoins Eclipse Tokenized Stocks
Robinhood Chain TVL hit $542M in August, up 45% for the month. USDe stablecoin surged 50% to $286M, while tokenized stocks shrank to 6% of the total.
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Robinhood Chain's total value locked crossed $540 million in August, up more than 45% for the month, according to data from Coin Bureau.
The growth came almost entirely from stablecoin inflows. Ethena's USDe token surged 50% since early August to reach a $286 million market cap on the chain, making up 44% of all stablecoin value on the platform.
Tokenized real-world assets, which Robinhood pitched as the chain's flagship use case at launch, hit $32 million in TVL in August. That was a 120% gain from July. Their share of the chain's total value has shrunk from about one-third on July 7 to just 6% now.
The chain's overall TVL has expanded about seven times faster than tokenized RWAs since launch, the data show. The gap suggests that the tokenized equity story has not been the primary driver of network growth so far.