Key Highlights
- Robinhood Chain recorded $375.15 million in 24-hour DEX volume, surpassing Hyperliquid’s $198.87 million.
- The Layer-2 ranked fifth among blockchain networks by daily DEX trading volume, according to DeFiLlama.
- Robinhood Chain’s TVL climbed to $101.03 million, posting a 35.75% daily increase.
Robinhood Chain, a permissionless Ethereum Layer-2 blockchain, has recorded 24-hour decentralized exchange (DEX) volume that has surpassed Hyperliquid L1, according to recent blockchain data.
In a ranking of networks by DEX activity posted by open-source data aggregator DeFiLlama, Robinhood Chain had $375.15 million in 24-hour DEX volume, placing it at fifth position overall. This figure exceeds Hyperliquid L1’s $198.87 million, which ranked eighth.
The broader leaderboard shows established chains maintaining dominance. Solana led with $1.791 billion in 24-hour DEX volume, followed by Ethereum at $1.14 billion, Base with $833.32 million, and BSC at $649.31 million. Over seven days, Robinhood Chain’s DEX volume reached $889.47 million, while its 30-day total stood at approximately $889.69 million. Hyperliquid, by contrast, showed stronger longer-term figures in some categories but trailed in the immediate 24-hour timeline.
What does on-chain metrics for Robinhood suggest
On-chain metrics for Robinhood Chain further illustrate recent momentum. Its Total Value Locked (TVL) in DeFi reached $101.03 million, reflecting a +35.75% increase over the past 24 hours.
DEX volume for the period was reported at $473.6 million, with additional activity in perps volume. The network uses ETH for transaction fees, and data indicates a sharp rise in bridged assets from the Ethereum mainnet.
According to Token Terminal, the amount of ETH bridged to Robinhood Chain surged roughly 70 times in the past week, exceeding $70 million shortly after its public mainnet launch.
Several developments behind the activity surge
This growth coincides with several ecosystem developments. Prediction market protocol World, previously on Solana, announced its full migration to Robinhood Chain following an internal review. Multi-chain trading platform LAB also integrated support for the network, broadening access to its tokenized assets. These moves signal efforts to expand the chain’s utility and user base in a competitive layer-2 environment.
The bridged ETH increase suggests users are actively testing the network’s fee structure and performance. However, integration with existing tools and protocols remains in early stages, as evidenced by the recent additions from World and LAB.
The data comes amid a broader market where Solana, Ethereum, and other majors continue to process billions in daily DEX volume. Robinhood Chain’s position in the top five for 24-hour activity represents a solid debut but remains modest compared to leaders like Solana’s multi-billion-dollar figures across timeframes.
Hyperliquid tops Robinhood in TVL
Hyperliquid, meanwhile, maintains a significantly larger TVL of $5.939 billion. Its annualized fees stand at $1.873 billion, with revenue and holders’ revenue both reported at $827.3 million. The platform’s 30-day DEX volume reached $3.985 billion, alongside substantial perpetuals and liquidation volumes.
A longer-term chart shows steady growth through 2025 and into 2026, with open interest at $10.295 billion and a market cap of $15.372 billion for its token. Despite Robinhood’s shorter-term volume edge, Hyperliquid operates at a different scale in overall locked value and derivatives activity.
Robinhood faces scam tokens surge
While the volume comparison favors Robinhood Chain in the immediate term, the network faces notable hurdles. Relay Protocol issued a public warning regarding a surge in scam tokens on Robinhood Chain.
These malicious assets reportedly disappear from users’ wallets shortly after transactions, functioning as advanced honeypots that result in lost funds. The protocol stated it is blocking such tokens while verifying legitimate ones, but the incident highlights security and trust issues common in rapidly growing chains.
Robinhood to work more to sustain the momentum
Robinhood Chain’s $375 million+ 24-hour DEX volume outperforming Hyperliquid’s figure demonstrates initial traction, supported by increased bridging, protocol migrations, and platform integrations.
Yet its modest $101 million TVL compared to Hyperliquid’s nearly $6 billion, combined with emerging scam risks, suggests the network must navigate significant operational and security challenges to sustain momentum. Longer-term success will depend on user retention, reliable infrastructure, and effective mitigation of threats that could erode confidence in this new blockchain ecosystem.
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