Robinhood Chain TVL Surges to $135M in Two Weeks; Meme Coin CASHCAT Dominates Over RWA

According to BlockBeats, Robinhood Chain, the Ethereum Layer 2 network launched on July 1, reached total value locked (TVL) of approximately $135 million in less than two weeks as of July 13, with nearly 800,000 cumulative active addresses and 3.6 million daily transactions, ranking among the most active new blockchains in crypto.

However, on-chain activity diverges sharply from the platform's tokenized stocks positioning. Real-world asset (RWA) holdings total only about $12.81 million, with tokenized stocks at $10.68 million, while Meme coin CASHCAT surged 2,158% over the past seven days to a market cap of $156 million, far exceeding on-chain RWA volume. CEO Vlad Tenev acknowledged the chain is "equally suited for Meme coin trading," though long-term goals remain RWA infrastructure development.