In just two weeks, the initial activities of Robinhod Chain were driven mainly by face currency, with a turnover of $3.1 billion. Although users hold some $13 million in monetized shares on the network, the market value of the most valuable face currency on the network has reached $150 million. Analysts noted that, while Robinhood Chain provided an opportunity to trade in tokenized assets with companies such as Apple and Weeda, user interest focused more on face currency.
Trade surge
According to an analysis by the Investment Bank Bernstein, Robinhod Chain quickly became the top five destinations for chain-trading assets, with a cumulative trade volume of $3.1 billion over the past seven days through decentralised exchanges such as Uniswap and PancakeSwap. At the same time, some 65,000 users were exposed to $13 million in monetized shares that were available in more than 120 countries but not in the United States.
The Rise of Emoticons
On the Internet, about 25,000 wallets have a cat-oriented Cash Cat token with a market value of $150 million, which is the most valuable expression on the network. Other emoticons include Wen Lambo, Tendies and Hoodrat.
Future outlook
Bernstein also mentioned that Robinhod was working to move user activities beyond monetized assets, focusing on decentrized lending with DeFi Morpho and permanent futures arrangements with DEX Lighter.
In social media, Chairman Tom Lee of BitMine said that the early success of Robinhod Chain had enhanced the perception of the Taifeng as a currency, as transaction costs were denominated in that digital asset. Chief Executive Vlad Tenev of Robinhod had stated at the Press conference that monetization had been the biggest innovation in capital markets in the past decade and predicted that criticism of encrypted assets would disappear because of the potential of technology.