Robinhood's L2 Eats $70M of ETH in a Week—Gas Just Got a New Groupie 🦌

Robinhood Chain, the EVM-compatible Arbitrum-based layer-2 network that uses ETH as its native gas token, saw more than $70 million in Ether bridged to it during its first week after launching on July 1. Token Terminal reported the figure on Thursday, noting that "if adoption continues, the chain could become a meaningful new source of demand for ETH."

Data platform DefiLlama shows Robinhood Chain holds a total value locked of 46,748 ETH, worth approximately $83 million at current market prices. Thursday's inflows alone totaled 31,855 ETH, equivalent to roughly $55 million. Token Terminal also reported that Robinhood Chain's daily active users reached 194,000 in the chain's first week, with daily revenue growing to $39,000, a $14 million annualized revenue run rate.

"Robinhood Chain is rapidly turning liquidity into economic activity," Token Terminal said in a separate post on X. The network was described by Robinhood at launch as "AI-native and purpose-built for real-world assets." The company has also offered tokenized stocks to customers in more than 120 countries, responding to surging demand for tokenized US equities.

Uniswap founder Hayden Adams said Friday that most activity on Robinhood Chain is ETH-denominated. "It's the base pair for trading, the highest volume asset, and the gas token to pay for blockspace," he said, adding that the chain "also burns ETH on L1 to pay data storage fees."

Industry observers cited structural benefits for Ethereum from the design choice. Tim Sun, senior researcher at HashKey Group, called it "a clear, structural positive for ETH" and noted that "as bridged assets, wallet addresses, and on-chain transactions grow, new demand for ETH is generated." Andri Fauzan Adziima, research lead at Bitrue Research Institute, said the early volume "validates the L2 flywheel" and described the chain as "a meaningful new demand sink" because "every transaction I track