Robinhood built a blockchain for tokenized stocks. Memecoins took over
CoinDesk·
60-second summary
Robinhood Chain, a blockchain for tokenized stocks, has attracted $135 million in value and 800,000 addresses since July 1, but nearly all activity is centered around memecoins, not the intended stock tokenization. This shift highlights the market's current focus on speculative assets over traditional investment opportunities, underscoring the evolving landscape of cryptocurrency adoption.
Robinhood Chain has pulled in $135 million of value and 800,000 addresses since July 1. Almost none of it is doing what the chain was built for.