Robinhood Chain Hits $70M in Bridged Ether During Opening Week

The network’s early traction is reflected in robust ecosystem metrics. Total value locked has climbed past $106 million, bolstered by significant institutional participation, including a $50 million deposit from Ethena into a USDG vault managed by Steakhouse Financial. Activity on the chain is heavily concentrated in the Morpho lending protocol, where users can access yields around 7% on USDG deposits.

Daily trading volume on Uniswap has surged to $500 million, trailing only Ethereum’s mainnet in recent performance. According to analytics firm Token Terminal, the chain is already processing roughly $39,000 in daily revenue, suggesting an annualized run rate near $14 million. Uniswap founder Hayden Adams noted that Ether remains the dominant asset across the network, serving as the base trading pair and the primary mechanism for covering data storage costs on the Ethereum mainnet. As Robinhood expands its offering of tokenized equities like NVDA and AAPL, the chain’s reliance on Ethereum infrastructure continues to solidify the latter's role as the foundation for institutional-grade, on-chain financial products.