Robinhood Chain, an Ethereum layer‑2 launched on July 1, 2026, has recorded about $312 million in total value locked and 3.6 million daily transactions, according to data from DefiLlama and Token Terminal. The network was created to support tokenized stocks and other real‑world assets, but early usage has been driven by speculative memecoin trading, including the CASHCAT token, which rose 2,158% over the past week and reached a $156 million market cap, according to CoinDesk. Total value locked grew from $17 million on July 3 to $135 million, as reported by DefiLlama, and the chain ranked among the top three for decentralized exchange trading volume with $3.1 billion in weekly volume. Tokenized equity assets accounted for $12.8 million of the locked value, while stablecoins and other tokens made up the remainder. The chain processed 10.4 million transactions in a single day, surpassing Base’s 6.4 million, as posted by CEO Vlad Tenev on X, and has attracted nearly 800,000 lifetime active addresses. Fees per transaction run a fraction of a cent, and the value of all tokens locked on the protocol is $312 million with a total asset market cap of $480 million, according to the protocol’s public metrics. CEO Vlad Tenev stated on July 2 that assets without utility lack lasting purpose and that tokenized real‑world assets are the durable direction for crypto, and on July 8 he added that the chain 'works great for memes too,' according to his X posts. Whether the current speculative demand will convert into broader adoption of tokenized equity and real‑world asset services remains unresolved.