Robinhood Chain Tops Hyperliquid In DEX Volume

A New Chain Moves Fast

Robinhood Chain (@RobinhoodCrypto) recorded $375.15 million in decentralized exchange volume over a single 24-hour window, outpacing Hyperliquid (@HyperliquidX), which posted $198.87 million over the same period, according to DeFiLlama data.

The milestone is notable given how recently the network came online. Robinhood launched the public mainnet for Robinhood Chain on July 1, 2026, positioning it as a Layer-2 blockchain built on Arbitrum and designed for tokenized real-world assets and decentralized finance. The chain went live with several established DeFi protocols already integrated, including Uniswap as its primary liquidity venue, Chainlink for price oracles, and Morpho for lending.

The volume surge follows an even larger spike on July 8, when the chain briefly recorded between $560 million and $570 million in daily DEX volume, driven largely by a memecoin called Cash Cat. That token alone accounted for roughly $98 million in trading activity on Uniswap pairs on the chain, according to Crypto Briefing. Daily active addresses approached 200,000 on that date, with more than 140,000 of those being first-time users of the network.

Context: What Robinhood Chain Is Up Against

Hyperliquid has been one of the dominant forces in on-chain trading, particularly in perpetual futures. The platform carries a total value locked of around $1.4 billion and a native token, $HYPE, with a market cap exceeding $15 billion, per DeFiLlama. Its 7-day DEX spot volume still stands at $1.6 billion, well ahead of Robinhood Chain's $512 million over the same window, suggesting the gap in sustained activity remains wide even as the 24-hour comparison favors the newer chain.

Robinhood Chain's infrastructure is built to support more than memecoin trading. The network integrates Stock Tokens, which are on-chain instruments providing economic exposure to publicly traded equities such as Apple, NVIDIA, and Google, available through Robinhood Wallet in more than 120 countries. The company has also launched Robinhood Earn, a decentralized lending product offering an estimated 7% annual yield on its USDG stablecoin through Morpho.

Whether the current volume levels reflect durable demand or early speculative enthusiasm remains an open question. The chain is still in its first two weeks of mainnet operation and is currently waiving gas fees on core activities including swaps, bridging, and perpetual futures trading for the first 90 days.

Sources:
Robinhood Chain on-chain data, DeFiLlama
Robinhood surpasses Hyperliquid in 24-hour DEX volume, Crypto Briefing
Robinhood Chain mainnet announcement, Robinhood Newsroom