Analysis: The launch of Robinhood Chain boosts ETH sentiment, having bridged approximately 141 million USD in ETH

According to Cointelegraph, the launch of Robinhood's Layer 2 network, Robinhood Chain, has boosted market sentiment towards Ethereum. The network uses ETH as its native Gas token, and approximately $141 million worth of ETH has been bridged to the chain.

Reports indicate that there are now over 500,000 wallet addresses holding ETH on the network. In the past 24 hours, the DEX trading volume on Robinhood Chain reached $877.56 million, surpassing Ethereum L1 and competitor Base. As an on-chain extension of the traditional financial trading platform Robinhood, it offers tokenized stock services to customers in 120 countries, further strengthening the EVM-compatible ecosystem.