Robinhood's Stock-Focused Blockchain Flooded by Memecoins After July Launch

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Robinhood launched its own blockchain, Robinhood Chain, with the primary goal of supporting tokenized stocks. Since its July 1 debut, the chain has attracted $135 million in total value and around 800,000 wallet addresses. However, the bulk of activity on the network has been driven by memecoins rather than the tokenized equities it was designed for. The platform's core use case has largely been sidelined as speculative crypto trading dominates user behavior on the chain.

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