Robinhood Chain's daily trading volume reaches US$34.6 billion, triggering the "Stonks" memecoin

Robinhood Chain set a record in two months after its launch: cumulative transaction volume of DEX reached US$34.6 billion.

Only more than two months after its launch on the public main network, Robinhood Chain has recorded cumulative decentralized exchange (DEX) transaction volume of US$34.6 billion, and the total lock-in value (TVL) of the agreement reached US$1.27 billion. This data was disclosed by Robinhood Crypto in its two-month online update report. The report also shows that the network processed 576 million transactions during this period, has 12.3 million addresses, and has more than 190 stock tokens running on the blockchain.

This milestone achievement marks the expansion of Robinhood Chain's activities from tokenized stocks to a new speculative market that combines traditional stocks with cryptocurrency's native meme culture. Memes that are paired directly with Robinhood stock tokens--which traders are increasingly calling "Stonks" or "stock memes"--are starting to attract a lot of trading activity. At the same time, Pons, a token launch platform built on the network, has become one of the largest fee generation applications in the encryption field.

Overview of key data

According to Robinhood Crypto's data, Robinhood Chain has made a number of major developments in the first two months:

• Total DEX transaction volume reaches US$34.6 billion
• Agreement TVL is US$1.27 billion
• The total number of transactions was 576 million
• The total number of addresses is 12.3 million
• More than 190 stock tokens have been launched
• Cumulative DEX trading volume of stock tokens exceeds US$3 billion
• The volume of perpetual contract transactions through Lighter is US$7.29 billion

These numbers are Robinhood's self-reported network statistics, highlighting the rapid growth of its chain ecosystem. Robinhood Chain's public main network was officially launched on July 1, 2026, after its public test network was released on February 10. The network is Ethereum Layer 2 built based on the Arbitrum platform, with Ethereum as the settlement layer, and ETH as its native Gas token. Robinhood described the blockchain as being built specifically for financial services and tokenization of real-world assets.

At the time of launch, Robinhood announced integration with infrastructure providers such as Chainlink, Alchemy and BitGo, as well as DeFi platforms such as Uniswap. Its stock tokens are available to qualified Robinhood Wallet users in more than 120 countries around the world, with specific availability depending on jurisdiction regulations.

Importantly, Robinhood stock tokens do not represent direct ownership of underlying company shares. Robinhood describes the products as tokenized debt securities that provide economic exposure to the underlying assets but do not grant traditional shareholder ownership or voting rights.

Pons become the main force driving online activity

One of the main beneficiaries of Robinhood Chain's recent activities is third-party token launch platform Pons, which allows users to create and trade tokens across the web. According to CoinDesk, citing data from DefiLlama, Pons incurred approximately $5.95 million in fees over a 24-hour period on September 3. This temporarily puts it in fourth place among all agreements tracked by the platform, behind Tether, Uniswap and Circle, exceeding the fees incurred by Robinhood Chain itself during the same period.

On September 2, nearly 25,000 tokens were created through Pons, with an average daily transaction volume of approximately US$544 million. The platform's native PONS tokens have also benefited from this surge in activity. Decrypt reported that on September 3, PONS traded at approximately $0.5978 in the Uniswap pool, up 31.82% from 24 hours ago and approximately 181 times from its July 17 low of $0.0033. In addition, PONS overtook CASHCAT at the end of August and became the largest Robinhood Chain native cryptocurrency by market value at the time.

Another catalyst appeared on September 2, when Binance Wallet added PONS and FLORK to Binance Alpha, where PONS can be traded through Binance Alpha 1.0. Although Pons is not an official product of Robinhood, its growth demonstrates how permission-free applications can develop independently on top of the Robinhood blockchain.

What are "Stonks" on Robinhood Chain?

A particularly unusual trend has emerged around Robinhood Chain's most distinctive distinctive feature-tokenized stocks. Cryptocurrency traders began to create memoins, whose DEX liquidity was directly paired with tokenized stocks, rather than traditional assets like ETH or stablecoins.

This trend has been described in the emerging Robinhood Chain community as "stock memes" or "Stonks." "Stonks" itself is a deliberate misspelling of "stocks" that stems from a long-standing Internet meme used to humorously describe financial markets, questionable investment decisions, and unexpected successful transactions. On Robinhood Chain, the meaning of the word becomes more literal as meme tokens begin to connect with traditional representations on the financial asset chain.

Stock meme projects have emerged around citing tokenized assets of companies and products such as AMC Entertainment, Nvidia, Apple and Tesla. For example, a project could establish liquidity for tokenized equity rather than the traditional MEME/ETH liquidity pool. This structure does not mean that memin is issued, approved or supported by the company represented by the stock token. It remains an independent speculative crypto asset.

AMC controversy accelerates "Stonks" trend

The distinction became particularly important on September 3, when AMC Entertainment CEO Adam Aron publicly criticized Robinhood's tokenized version of AMC stock. Arion said AMC had no connection with the product, nor had it approved or endorsed it. He also questioned its legal structure and said AMC would ask outside securities lawyers to investigate the matter. Robinhood CEO Vlad Tenev publicly responded and asked: "What are your concerns?"

Robinhood's disclosure statement stated that its stock tokens provide economic exposure rather than actual ownership of the companies to which the securities it tracks, and are not available to U.S. people.

Cryptocurrency traders quickly transformed the controversy itself into another market. A Robinhood Chain meme called MEME soared in value within hours of launch after being paired with tokenized AMC assets. According to BlockBeats quoted GMGN data, its market value exceeded US$11.2 million in the early hours of September 4, and then exceeded US$30 million. As speculation intensified, the token's market value was close to $150 million at one point, with reported trading volume at the time of approximately $87.4 million.

This move demonstrates both the appeal of the emerging Stonks market and its extremely high risk: valuations can change by tens of millions of dollars in a matter of hours, and the memin itself has no corporate relationship with the companies referenced by its paired stock tokens.

Robinhood Chain blurs the line between traditional finance and crypto culture

Robinhood initially positioned its blockchain to bring traditional financial assets onto the chain. Stock tokens can be traded through decentralized venues and, according to Robinhood, could potentially be integrated into DeFi apps as collateral or deposited in the lending market.

However, two months after the main network was launched, the network demonstrated another consequence of making traditional assets programmable: a permission-free crypto market can build entirely new products around them. The result is an unusual collision of RWAs (real-world assets), DeFi and memin speculation.

Robinhood Chain reported US$34.6 billion in DEX transaction volume indicating that a large amount of activity has reached the network. The explosive growth of Pons and the rise of Stock Meme trading suggest that tokenized stocks are not only being used as a digital version of traditional investments, they are also becoming the cornerstone of a new, highly speculative class of on-chain markets.