Robinhood Chain sees over $70M in ETH bridged during first week

Robinhood’s choice to use Ethereum further solidifies its position as the “ultimate settlement layer and liquidity foundation for tokenized assets,” said HashKey Group’s Tim Sun.

The amount of Ether bridged to Robinhood’s new layer-2 blockchain exceeded $70 million in just the first week, according to Token Terminal. 

Robinhood Chain, an EVM-compatible Arbitrum-based layer-2 network that uses ETH as its native gas token, launched on July 1 with the company describing it as “AI-native and purpose-built for real-world assets.” 

“If adoption continues, the chain could become a meaningful new source of demand for ETH,” said Token Terminal on Thursday. 

Read more