Robinhood's New Blockchain Has Tripled in Size Since Mid-July. Is This a Game-Changer for Robinhood Stock?
More investors are trading tokenized stocks on its new blockchain.
Overview
Robinhood (NASDAQ: HOOD), the online brokerage that popularized commission-free trades, launched its own blockchain, Robinhood Chain, on July 1. Robinhood wanted its investors to trade tokenized stocks on the blockchain, but meme coins dominated most of its early trading.
However, Robinhood's investors gradually pivoted toward tokenized stocks over the following weeks. According to DefiLlama, real-world assets (RWAs) on Robinhood Chain -- including tokenized stocks -- reached about $70 million by late July.
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Details
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Originally published at www.fool.com.
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