Robinhood Chain hit 1 million active wallets in two weeks with $3.1B in DEX volume, but memecoins dominate early activity over tokenized stocks.

Robinhood Chain hit $3.1B in weekly DEX volume and 65K users since its July 1 launch, as the Layer 2 eyes tokenized markets, Bernstein said.

Robinhood's new blockchain quickly became a top-five network by DEX volume, signaling strong early demand for its tokenized asset platform, the broker said.