“Early trading volumes on Robinhood Chain were led by meme coins, but [it] shows strong liquidity and traction from crypto-native traders,” they wrote, while emphasizing the retail brokerage’s growing focus on products and services tied to real-world assets.
The analysts noted that the network has quickly become a top-five destination for trading assets on-chain, facilitating $3.1 billion in cumulative trading volume over the past seven days via decentralized exchanges such as Uniswap and PancakeSwap.
Meanwhile, around 65,000 users have gained exposure to $13 million in so-called stock tokens, which are available in over 120 countries but not in the U.S., the analysts added.
Bernstein referenced Robinhood’s efforts to push user activity beyond tokenized assets, focusing on decentralized lending through a partnership with DeFi protocol Morpho and perpetual futures through an arrangement with DEX Lighter.
