Robinhood Chain numbers skyrocket two months after launch

Robinhood Chain is already outpacing Solana in fees. The network, launched last July, has already generated $33 million in just fifteen days, compared to $11 million for Solana, according to Bernstein. Analysts led by Gautam Chhugani have maintained their $160 price target for Robinhood stock, representing a 31% upside potential.

Key points

• Robinhood Chain generated approximately $33 million in fees over fifteen days, outperforming Solana ($11 million) and BNB Chain ($9 million)
• The network boasts $1.5 billion in TVL and over $50 billion in DEX volume since its launch
• Robinhood keeps roughly 90% of the fees, with 10% going to Arbitrum and less than 1% to Ethereum
• Bernstein maintains an "Outperform" rating with a $160 price target, 31% above the current share price

Robinhood Chain turns business into revenue

Launched on July 1st, Robinhood Chain has already amassed approximately $1.5 billion in total value locked and over $50 billion in volume on its decentralized exchanges. Total fees generated since launch are estimated at $39 million. "The chain is now a source of profit," confirm the analysts at Bernstein.

Commission revenue has recently fluctuated between $2 million and $4 million per day. According to the report from Bernstein cited by The Block, Robinhood retains approximately 90% of these fees. Nearly 10% goes to Arbitrum, whose technology serves as the foundation for the network, while less than 1% is paid to Ethereum for data publication.

However, these figures reflect a high-growth phase and cannot be directly extrapolated over a full twelve-month period. Bernstein projects approximately $160 million in annual fees for 2028, significantly less than what a simple annualization of the current daily peak would suggest.

Tokenized stocks and stablecoins fuel growth

The value of tokenized stocks on Robinhood Chain has grown from approximately $10 million to $140 million in two months. During the week of August 30th, the network accounted for nearly 32% of the value of tokenized stock transfers, second only to BNB Chain.

Stablecoins are the other engine driving this activity. Their outstanding volume has reached approximately $1 billion, up from $241 million at the start of July. USDG accounts for 66% of this total, with USDe making up roughly 33%.

This rapid progress partly explains Bernstein's optimism. With a price target set at $160, analysts believe that Robinhood Chain is no longer just a technological investment: the network is becoming a new revenue stream for the brokerage.

The comparison with Solana must, however, be kept in context. It covers a period of only fifteen days, during which Robinhood Chain is still benefiting from the momentum of its launch. The network's ability to maintain its volume and revenue over the long term remains the primary factor to monitor.

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