In just three weeks since its launch, Robinhood Chain's daily active users have surpassed Base, with TVL skyrocketing from less than 5 million to 589 million USD
According to Artemis data, Robinhood Chain recorded 323,969 daily active users on July 21, surpassing Base's 274,520, marking the second time it has exceeded Base since the mainnet launch on July 1. On the same day, TVL reached a new high of $588.9 million, a daily increase of 14%, while this metric was still below $5 million at the end of June. Morpho accounted for $260.6 million, or 44% of TVL, while Ethena accounted for 26%.The on-chain stablecoin supply reached $438.8 million, a weekly increase of 30%. The 24-hour trading volume of the spot DEX also exceeded Base at $624 million compared to Base's $603 million. However, the main driver of activity was meme coin trading rather than the tokenized stocks that the chain focuses on, with the market value of tokenized stocks only at $19.3 million. Base still significantly leads in most metrics: DeFi TVL of approximately $4.64 billion is 15 times that of Robinhood Chain, stablecoin supply of $4.84 billion is 11 times that of Robinhood Chain, and perpetual contract trading volume of $255.5 million far exceeds its $13.5 million. Robinhood Markets' stock price rose over 8% on the launch day, closing at $107.55 on July 21.
