Robinhood Chain, Robinhood's new layer-2 blockchain, recorded $2.66 million in 24-hour application revenue on August 31. Data from DeFiLlama confirmed this figure. This single-day revenue surpassed the Ethereum network's app revenue. Ethereum recorded approximately $1.28 million during the same period.
Decentralized trading applications primarily drove the activity surge on the recently launched network. This milestone highlights early traction for Robinhood's on-chain strategy. The reported figure represents revenue for applications built on the network. It does not represent direct income for Robinhood Markets, Inc.
This event marks a notable data point for the two-month-old chain. The chain utilizes Arbitrum technology. Sources caution that this is a short-term snapshot. It is not indicative of a long-term trend in the competitive blockchain landscape.