Author: MyToken
A new chain that launched just a month ago, its DEX trading volume exceeded $3.1 billion in the first week, briefly surpassing Ethereum and Base. This is Robinhood.
On July 31, the data platform MyToken held a discussion on the Robinhood Chain in a Space, engaging in intense debate around the question of whether “Robinhood Summer has arrived, whether RWA narratives or MEME frenzy prevail, and how to find the next Alpha.”
1. Why is it popular? Timing, location, and teamwork
The Robinhood Chain went live on July 1. In just a week, DEX trading volume reached $3.1 billion, placing it among the top five globally. On July 12, the single-day trading volume was about $878 million, briefly exceeding Base and Ethereum. The number of active addresses peaked at 350,000, with daily trading volume soaring above 10.4 million transactions.
Why is it so popular? The guests provided several key insights.
Teacher Qiuqiu believes that maturity of timing is the primary reason. “Binance and major exchanges had previously made strides in the on-chain transformation of US stocks, but the memes on chains like Base and Solana had already been played out, lacking heat and new users. Robinhood Chain conveniently provides a new entry point for US stocks.” Furthermore, Robinhood comes with its own traffic and brand recognition — it has over 10 million active users, crossing from traditional brokerage to Web3. “It’s related to the retail investor movement surrounding GME, and people naturally feel good about it.”
Teacher Fangyuan added external factors: Solana previously experienced a very successful meme market, while some coins on BSC praised by CZ performed poorly, “The sentiment had already been ignited, but many people missed out. Robinhood Chain just caught this wave of emotion.” Internally, he pointed out that Robinhood Chain is based on Arbitrum’s L2, with stable block times around 100 milliseconds, “which is very fast and beneficial for bots to provide liquidity and smart money to operate.”
Teacher Hongdou calculated the numbers: Robinhood has around 28 million global users, of which over 10 million are active users. “The mainnet went live on July 1, which is equivalent to directly bringing over 10 million active users onto the chain; this user base is unparalleled by other chains.” More importantly, the CEO Vlad Tenev personally got involved — he initially stated on CNBC that meme coins were “essentially a dead end,” but on July 1, he reversed his stance and said this chain “is very suitable for meme coins,” and on July 9, he directly declared, “Robinhood Summer is here.” “When the boss personally promotes it, how can this wave of popularity not explode?”
Teacher Lay took a more direct perspective: “At that time, US stocks were rising, and everyone was playing with US stocks; those who didn’t understand US stocks had nowhere to go. When something new comes out, everyone rushes in to compete for the top spot, buying a few hundred dollars to hold. Coupled with the founder promoting this, it just catches on.”
2. What stage are we in now? Starting, overheating, or tailing off?
Regarding this question, the guests had clearly differing opinions.
Teacher Hongdou assessed that the peak of popularity has passed, but the ecosystem is just beginning. “By the end of July, daily active users have started to decline, roughly down 17%.” Data shows that the weekly average DEX trading volume decreased by 27%, with daily average active accounts around 275,000, down by 7%. “The alpha phase of memes has already passed, and chasing higher now carries great risk. The real value lies in RWA and tokenized stocks; these are just starting to be established.”
Teacher Fangyuan believes it is still in an early chaotic stage. “Right now, the Robinhood Chain is in the midst of a chaotic struggle; the launchpads are not unified, and the official endorsement is not in place. It needs to have both official backing and application tokens like Solana before we can further observe.”
Teacher Lay holds the most pessimistic view. “I feel like it might just be over; there is no liquidity left. Unlike BSC, there isn't an alpha or contract expectations, which might have potential for the future.”
Teacher Qiuqiu tried to mediate: “It’s hard to judge. You see, in these days, other similar chains with traditional financial backgrounds haven’t continued, but Robinhood Chain is still holding up. However, today’s BSC wave from CZ may snatch most of the attention.”
From the data perspective, TVL is still growing and has reached about $325 million. However, the turnover rate of on-chain funds (DEX trading volume/TVL) dropped from 9.25 times in the second week of July to 1.68 times last Friday, indicating that the inflow of funds is more for financial returns (Robinhood Earn offers about a 7% annual return) rather than trading.
3. Launchpad Battle: NOXA falls, and competitors arise
The most dramatic scene on the Robinhood Chain was the sudden shutdown of the leading launchpad NOXA.
After launching, NOXA quickly secured a dominating position, with peak daily fees reaching $2.33 million, four times that of Pump.fun on the same day. CASHCAT, the largest meme coin on-chain, came from its hands, with its market cap once exceeding $200 million. However, on July 11, NOXA unexpectedly suspended new token issuance, citing “flooding with new coins, mimicking trends, and mass creation of duplicate tokens by bots.”
This incident ignited even greater enthusiasm.
Teacher Qiuqiu categorized launchpads into three types: first are mature teams migrated from Base like Pump.fun; second are wealthy and popular platforms created by major players; third are various “makeshift stages” with official backgrounds. “In the previous week, people were still looking at platform backgrounds to buy tokens; this week, regardless of brand, there was no novelty, and people focus more on whether the tokens themselves are doing something.”
Teacher Fangyuan believes that the boom after NOXA's shutdown is a “false prosperity”. “Previously, NOXA held over 90% of the market share, and after it fell, it was like the Warring States period; various launchpads were generating excitement. But in the end, everyone only plays with the leading one and won’t bother with others. True prosperity will only begin once the launchpad conflict ends and an officially recognized platform emerges.”
As of July 20, Pons, with a daily trading volume of about $45 million and a market share of 52.1%, became the new leader. However, competitors like Arrow and Stonkbroker are still eyeing closely. The launchpad battle is far from over.
4. Trading insights: Lessons and experiences from practice
While sharing personal trading cases, the guests had different experiences, but pointed toward the same issue: how to survive in this extremely fragmented market.
Teacher Qiuqiu told a story about missing out on Mars Coin on BSC. His habit is to use his own AI tool to analyze projects one by one — feeding in contract addresses to score based on code quality, official website content, team background, community feedback, etc. “At that time, I was playing with US stocks and memes on Robinhood Chain daily, thinking that things from BSC were outdated, so I set them aside.” As a result, that coin skyrocketed after hitting alpha. This missed opportunity made him reassess his judgment framework: “You have to go with the flow, don’t think your taste is superior to others. What is often discussed by the public is more likely to become a mainstream trend.”
Teacher Fangyuan wakes up at 5 AM every day to scan chains. “5 AM is when foreigners start sleeping and Chinese people have not yet woken up, making it a great time for alpha.” However, he candidly admitted that the primary reason for his most significant losses was “too much trust in his own judgment” — increasing positions during paper losses, digging deeper into the hole. “You can’t be blindly confident; when the market doesn’t recognize your logic, you have to admit the loss.”
Regarding specific chain choices, Teacher Fangyuan offered a very pragmatic suggestion: “For most ordinary people, the best opportunities to make money are on BSC. The culture of BSC is most suitable for Chinese people; whether in terms of project parties or communities, Chinese people dominate. The foreign culture on Solana, with language differences and behavioral habits, is hard to grasp.” He illustrated that many projects that became popular on Solana are not even understandable to Chinese players due to narrative backgrounds — “Cultural barriers are a real existence.”
Teacher Hongdou shared his experience missing out on CASHCAT. “On the first day, the community was discussing it, and the price was very low; I thought: there’s no ecosystem on a new chain, it will probably be dead in three days. In the end, it surged 2100% within a week.” Some traders turned $800 into over a million dollars. His review consisted of three points: First, the first popular meme on a new chain needs extra attention, “There are no other targets on new chains, and the first breakout often becomes the front-runner”; Second, focus on CEO statements, “Vlad Tenev tweeting about how this chain is very suitable for meme coins is a very clear signal”; Third, meme coins carry extreme risks; don’t go all in, “the average holding period is only about 100 seconds, and you don’t know where the top is.”
In terms of scanning techniques, several guests emphasized the importance of data tools. Teacher Hongdou mentioned to look at trading candlesticks, on-chain smart money flows, community discussion enthusiasm, and developers' historical records, “especially to check if the contract has buy-only and no-sell limits.” Teacher Fangyuan added that the current market is more competitive than last year, “Every chain is in competition, every launchpad is competing; you need to pay attention to letter cases, and find a suitable track for yourself, summarizing your own methods.” Teacher Qiuqiu’s judgment framework is: if a project can't even write coherent content on its official website, it likely won't survive three days.
5. What to look at next? Narrative assessments from both guests
The host's final question was directed at Teacher Qiuqiu: “You just mentioned that narratives are more important than specific brands; what trends do you foresee moving forward? How do you determine if a trend is worth pursuing?”
Teacher Qiuqiu categorized the current meme market narratives into three types:
The first type is “Meme resistance,” with typical representatives like GME’s stock meme tokens. “This narrative carries strong retail emotions, opposing Wall Street and traditional institutions, naturally easier to resonate.” However, he also warned that this type of narrative comes quickly and leaves quickly, “you need to keep an eye on the heat changes of the events themselves.”
The second type is “AI application,” which is also the direction he personally supports the most. “It’s no longer just tokens with AI concepts written in white papers; these are real projects with AI agent products and interactive experiences.” He mentioned that the tool he developed is designed to assist with such judgments — “You feed the key information of a project into it, and it analyzes whether it's continually doing work and whether there’s learning value from various dimensions.” This tool is built on the Dify framework, is open-source, and community members can deploy and use it themselves. “AI has lowered entrepreneurial costs; issuing a token is too easy now, so it’s even more important to verify if it’s genuinely working on its products.”
The third type is “Meme culture,” such as various Chinese cultural memes that previously emerged on BSC. “This track tests the grasp of community sentiment; catchy and easily spread ideas often catch fire more easily than technically complex ones.” He indicated that he will continue to focus on these three lines, especially the latter two.
Teacher Fangyuan’s answer was more focused; he directly identified the most certain overarching trend: “The future trend is clear — the meme-ification of stocks.”
His logical chain is clear: Robinhood’s core goal is to expand its user base from the current 300 million to 3 billion. “How to achieve this? Through stock tokenization and meme-ification of stocks. Each hot stock can launch a meme token to bring a batch of traditional users in.” He particularly noted that today, Mars Coin ($MARS) going live on BSC’s alpha is a clear signal — “Google memes, stock memes; this trend has already emerged.”
He reiterated the focus should be on BSC, “BSC is the place most suitable for Chinese people to make money; whether in terms of project parties or communities, Chinese people are dominant, with no cultural barriers.”
Although the two teachers have different perspectives — Qiuqiu leaning towards a diverse layout of technology and cultural narratives while Fangyuan focuses on the mainline of stock meme-ification — the consensus is clear: the integration narrative of US stocks + cryptocurrencies is the main battlefield we can’t avoid in the future.
Disclaimer: The content of this article is organized from the guest’s personal viewpoints and does not constitute any investment advice. The risks of digital asset trading are relatively high, please make careful decisions.
AI Summary
The guests' consensus can be summarized into four points:
The short-term meme heat has passed its peak, but the ecosystem is still in its early stages, and the real RWA narrative has yet to unfold;
The biggest narrative thread is “stock meme-ification,” which aligns with Robinhood’s expansion logic from 300 million to 3 billion users;
In operations, avoid being stubborn, and go with the flow; Chinese players should prioritize cultural-friendly BSC;
Make good use of on-chain data tools to aid decision-making, which is far more pragmatic than blindly chasing “hundredfold passwords.”
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