Robinhood Chain Sees Tokenized Stocks Gain Traction as RWA Market Tops $70 Million

Robinhood Chain is beginning to deliver on its tokenization strategy after an early surge in memecoin speculation overshadowed its launch. Less than two weeks after debuting, the blockchain is seeing rapid growth in tokenized real-world assets (RWAs), with the sector's market value climbing to roughly $70 million, according to DefiLlama. That marks an increase of about five times from the low tens of millions recorded shortly after launch.

Initially, tokenized assets accounted for only around 4% of the network's activity, while stablecoins and memecoins dominated trading. Now, tokenized equities are attracting larger trading volumes, signaling growing adoption of Robinhood's core vision.

GameStop leads the tokenized stock market on Robinhood Chain with approximately $26.6 million in daily trading volume. Nvidia follows with about $14 million, while SpaceX generates roughly $6.4 million. Overall, 12 tokenized stocks now record more than $500,000 in daily trading, including five that exceed $1 million.

The network's early spotlight was on CASHCAT, a memecoin inspired by Robinhood's original company name. The token surged more than 1,700% after CEO Vlad Tenev followed its social media account before retreating roughly 75% from its peak. Despite the decline, memecoins continue to dominate overall trading activity.

Robinhood Chain's total value locked (TVL) has also expanded significantly, reaching about $312 million, nearly triple its mid-July level, according to DefiLlama. Daily decentralized exchange (DEX) volume has climbed above $600 million, placing the network among the busiest blockchain ecosystems. Token Terminal also reports more than 138 million transactions over the past 30 days.

Even with the rise in tokenized equities, memecoins such as Hoodrat, Vladhood, Swole Doge, and CASHCAT remain the most actively traded assets. Tokenized stocks currently account for roughly $55 million in daily trading—less than 10% of total DEX volume—while stablecoins and memecoins continue to dominate liquidity.

Although Robinhood Chain still relies heavily on speculative trading, the steady expansion of tokenized stocks suggests its real-world asset ecosystem is gaining momentum. Continued growth will be crucial as Robinhood works toward bringing millions of retail investors on-chain and expanding blockchain-based access to tokenized financial markets.