Robinhood Chain hits record $989 million in daily DEX volume as TVL grows

Robinhood Chain recorded a record $989 million in single-day DEX trading volume on Friday.

Total value locked (TVL) clocked in at a record $708 million, a near 100% month-over-month increase.

Stablecoin supply on the chain also stands at ~$770 million, a 47% month-over-month increase.

Alongside the absolute growth, the composition of projects and tokens that have grown in recent weeks, compared to the month prior, has changed.

In July, Robinhood Chain was dominated by memecoin beta, following the run and eventual Robinhood spot listing of CASHCAT.