Robinhood’s layer-2 network, Robinhood Chain, has boosted market sentiment around Ethereum after launch, according to Cointelegraph, as cited by ChainCatcher. The network uses ETH as its native gas token and has already seen about $141 million worth of ETH bridged onto the chain. Wallet addresses holding ETH on Robinhood Chain have passed 500,000.
Activity on the network has also picked up quickly. Over the past 24 hours, decentralized exchange volume on Robinhood Chain reached $877.56 million, surpassing both Ethereum L1 and rival Base, the report said. Robinhood Chain also serves as the on-chain extension of the traditional trading platform Robinhood and offers tokenized stock services to customers in 120 countries, adding to the reach of the EVM-compatible ecosystem.
Ethereum is also drawing support from the real-world asset theme. Data from Rwa.xyz shows Ethereum holds a 47% market share in the RWA sector. Leon Waidmann, head of research at Lisk, said Ethereum’s on-chain total value locked has reached $260 billion, above ETH’s roughly $210 billion market capitalization, a gap he said could suggest ETH is undervalued.
Robinhood’s layer-2 network Robinhood Chain has improved market sentiment toward Ethereum after its launch, according to a Cointelegraph report cited by ChainCatcher.
ETH activity on Robinhood Chain builds after launch
The network uses ETH as its native gas token. About $141 million worth of ETH has already been bridged onto Robinhood Chain, and the number of wallet addresses holding ETH on the network has climbed past 500,000.
In the past 24 hours, DEX volume on Robinhood Chain reached $877.56 million, exceeding both Ethereum L1 and competing network Base.
Robinhood expands tokenized stock access across 120 countries
As Robinhood’s on-chain extension, the network offers tokenized stock services to customers in 120 countries. The report said this also strengthens the broader EVM-compatible ecosystem.
RWA positioning adds support for Ethereum
Ethereum is also supported by the RWA narrative. Data from Rwa.xyz shows Ethereum holds a 47% share of the real-world asset market.
Leon Waidmann, head of research at Lisk, said Ethereum’s on-chain TVL has reached $260 billion, above ETH’s roughly $210 billion market capitalization. He said that divergence could mean ETH is undervalued.
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