Robinhood Chain Sets Record 11.6 Million Daily Transactions as TVL Surges 32%

Forecast Trend Report by Period

Robinhood Chain set records for both daily transactions and total value locked.

Crypto news outlet The Block reported on August 11 that the network averaged 11.6 million transactions a day last week, up about 30% from the previous week and the highest level since launch. Total value locked, or TVL, climbed 32% over the same period to $473 million.

Average daily active accounts, by contrast, rose just 3.3% from a week earlier and remained 11% below the peak reached on July 16. While transactions and TVL increased, the user base was largely flat, suggesting existing users traded more frequently rather than a wave of new users joining the network.

The stablecoin mix also shifted sharply. Ethena's synthetic dollar stablecoin USDe now accounts for $253 million on Robinhood Chain, or about 43% of the total stablecoin supply. Just a month ago, USDe holdings stood at only $17 million, while Robinhood's own stablecoin, USDG, was the dominant asset.

The Block said networks shifting from conventional dollar-based stablecoins to yield-seeking synthetic dollar stablecoins tend to draw capital into deposits rather than trading. That aligns with rising TVL alongside stagnant active accounts.