Two weeks ago, Robinhood Chain was mostly known for memecoins. Now it’s the biggest venue for trading tokenized stocks on-chain, and it’s not particularly close.

Robinhood’s Ethereum Layer 2 network averaged $29.7 million in daily DEX volume for tokenized equities over the past seven days, according to a Dune dashboard maintained by OKX’s Web3 wallet team. That figure eclipses the combined output of Solana’s two primary stock-trading platforms: xStocks at $11.1 million and Backpack’s Sunrise at $13.4 million daily.

The numbers behind the surge

Robinhood Chain launched on July 1, 2026, built as an Arbitrum Orbit rollup settling on Ethereum. In barely two weeks, tokenized equities on the chain have accumulated roughly $70 million in total value, a fivefold increase from where things stood shortly after launch.

The volume breakdown reads like a Reddit watchlist. GameStop leads with $26.6 million in daily volume, because of course it does. Nvidia follows at $14 million, and SpaceX, a stock that’s essentially impossible for retail investors to access through traditional channels, pulls in $6.4 million daily.

Over a dozen individual stocks on the chain each surpass $500,000 in daily volume.

Total value locked has tripled to approximately $312 million, and daily DEX volume across all asset types, not just equities, exceeded $600 million. Memecoins and stablecoins still command a large share of that activity, but the equity piece is growing fast enough to matter.

Solana’s dominance erodes quickly

As recently as Q2 2026, Solana held over 95% of the tokenized equity market. Platforms like xStocks and Backpack’s Sunrise had built a meaningful head start, and the network’s speed and low fees made it a natural fit for stock token trading.

The Robinhood Stock Tokens themselves are issued by Robinhood Assets (Jersey) Limited. They reflect economic exposure to the underlying equities without conferring legal ownership. They trade 24/7 on decentralized exchanges, rather than actual shares sitting in a brokerage account.