Robinhood Chain's onchain activity surged this week as a memecoin frenzy, a Pump.fun integration and a defecting Solana app converged on the barely week-old network — even as its largest single inflow traced to a stablecoin deposit rather than the meme trade.
Cumulative addresses on the Arbitrum-based Layer 2 climbed toward 200,000 and protocol total value locked reached roughly $234 million, according to a network overview dashboard published by Entropy Advisors on Dune.
The chain went live to the public on July 1, meaning nearly all of that growth was compressed into the past week, with activity accelerating over the last two days.
The tone shift came from the top. In a post on X late on July 7, Chief Executive Vlad Tenev wrote: "While we're building robinhood chain to be the best chain for RWA … it works great for memes too."
The comment reversed a position Tenev had staked out days earlier. In a July 2 CNBC interview tied to the mainnet launch, he had described memecoins as largely a dead end, arguing that assets without utility do not serve a lasting purpose and that tokenized real-world assets were the more durable direction for crypto.
