Memecoin Trading Sends Robinhood Chain Past Solana and BNB Chain on Fees
Robinhood Chain, launched on July 1, is now generating trading fees at a pace that has put it ahead of Solana and BNB Chain over recent periods, according to comments from Franklin Crypto’s Chris Perkins, a Bernstein note led by Gautam Chhugani, and DefiLlama data cited in Unchained’s report. Bernstein told clients on Tuesday that it kept an Outperform rating on Robinhood Markets and a $160 price target, while describing the chain as an earnings contributor with daily trading fees of $2 million to $4 million. Over the prior 15 days, the network produced roughly $33 million in fees, compared with about $11 million for Solana and close to $9 million for BNB Chain. The report said nearly 90% of that revenue remains with Robinhood, with around one-tenth going to Arbitrum, whose technology underpins the chain, and less than 1% flowing to Ethereum. DefiLlama data showed Robinhood Chain brought in $23.8 million over the last seven days out of $33.5 million over 30 days, meaning about 71% of its monthly fees were generated in the most recent week. The activity was described as being driven largely by memecoins linked to thinly traded stocks. On Bits + Bips, host Austin Campbell pointed to FARMI, a Nasdaq-listed Chinese dried mushroom seller with 15 employees, whose shares rose 350% on Wednesday with 720 million shares traded after a memecoin using its ticker began trading on Robinhood Chain. Perkins said that kind of activity was "a game" rather than an investment.








