Robinhood Chain memecoin-stock trading hit $443M a day, then fell 96%
- —Daily volume in memecoin-stock pairs on Robinhood Chain peaked at $443 million in early September
- —On September 2, those pairs saw $217 million in volume versus $127 million for direct stock tokens
- —Activity in the pairs has dropped 96% from its peak after reports of rug-pulls
- —Chain TVL remains near $1 billion despite the trading decline
Why it matters: The collapse shows memecoin hype on a tokenized-asset L2 is fragile, though the $1 billion TVL suggests lasting interest in onchain equities.
Source: Crypto Briefing