Robinhood Chain Crashes Uniswap's Top Tier in Eight Days, Ethereum Watches From No.1 🏦

Robinhood Chain, the Arbitrum-powered Layer 2 network, recorded $500 million in Uniswap trading volume on July 8, vaulting past Base to become the second-largest Uniswap deployment by 24-hour volume behind only Ethereum mainnet. The chain reached $100 million in total value locked and surpassed 200,000 cumulative addresses in just eight days since launch, according to DeFiLlama data.

Total value locked on the network climbed above $106 million, a 159% increase over a 24-hour period. Morpho, the lending protocol powering an estimated 7% annual percentage yield on USDG deposits for Robinhood Earn, accounts for nearly $90 million of that figure. A $50 million single-day deposit by Ethena into a Morpho vault managed by Steakhouse Financial was the primary catalyst for the TVL jump, representing DeFi-native institutional capital rather than retail flows from Robinhood's 27 million users.

The chain's rapid ascent coincides with Robinhood CEO Vlad Tenev selling $43.6 million in HOOD shares during the same period. Robinhood Chain now ranks as the No. 2 Uniswap deployment, having displaced Base from the position with a single-day trading volume figure that few Layer 2 networks reach in a full year of operation.