Robinhood itself comes from the background of internet brokerage. In the area of on-chain trading of tokenized U.S. stocks, Robinhood Chain seems to sound quite reasonable as a king. However, when it comes to the field of cryptocurrency, it is a dragon amongst tigers. Solana firmly holds the top position in on-chain trading of tokenized U.S. stocks, with no other chain able to challenge it:

In the past two weeks, the on-chain trading volume of tokenized U.S. stocks on Solana was approximately $306 million and $275 million, significantly ahead of all other chains (to be detailed, this significant margin means that in the past two weeks, not a single other chain's weekly on-chain trading volume exceeded $10 million). It even has a noticeable lead over Binance, which has long held the top spot for tokenized U.S. stock trading volume on CEX. During the same two weeks, the trading volume of tokenized U.S. stocks on Binance was approximately $160 million and $183 million.

In other words, in the cryptocurrency market for trading tokenized U.S. stocks, Solana's scale is truly "top-tier." Meanwhile, the data for Robinhood Chain in the past two weeks was approximately $2.32 million and $9.41 million, indeed placing it as a younger brother before Solana.

However, considering that Robinhood Chain has only officially launched for a little over half a month, and its past two weeks' data ranked third and second among all chains, it is no longer just a younger brother but instead has started showing the vigor of a newborn calf.

So, where does the trading volume of tokenized U.S. stocks on Robinhood Chain come from? Meme coins.

That's right, meme coins are leading the U.S. stock trading on Robinhood Chain, and this is very likely to be the next big opportunity for Robinhood Chain.

On Robinhood Chain, meme coins saved U.S. stocks

Since the launch of Robinhood Chain, the most actively traded tokenized U.S. stock on its chain has been $NVDA, with the trading volume of the Uniswap NVDA/USDG v4 pool successfully surpassing $10 million.

Before July 20, the trading volume of this pool had never exceeded $500,000 in a single day. Almost all of the trading volume came from the past two days, with the trading volume during those two days exceeding $8.1 million.

All of this is thanks to two meme coins, $REAL and $AI.

$REAL is the meme coin paired with $NVDA on Bankr. On July 20, Bankr launched a feature that allows new meme coins to be issued using tokenized U.S. stocks as the liquidity pool, supporting more than 90 tokenized U.S. stocks, including $NVDA, $TSLA, $AAPL, and $SPY.

The founder of Bankr, @0xDeployer, personally launched this new feature's first token, which is $REAL. Since it was personally issued by the founder and he expressed on X that he would recruit a CTO team for this coin, the trading volume on its first day (July 20) exceeded $5.6 million.

$AI comes from another platform, long.xyz. This platform was actually established much earlier than Bankr, and $AI was launched on July 14, also as a meme coin paired with $NVDA. Although it was launched early, it had not gained much attention until Bankr sparked interest; on July 20, the daily trading volume of $AI reached $1 million.

The trading volume of Uniswap NVDA/USDG v4 pool on July 20 was $4.5 million. Combined with the previously tepid situation where daily volume was less than $500,000, this explosive volume is entirely attributed to the two meme coins mentioned above.

Uniswap founder Hayden Adams noticed this situation and discovered that the source was Bankr's $REAL, and specifically tweeted, "The new feature is so cool."

Uniswap team member @saintniko also commented on a tweet about the historical high trading volume of tokenized U.S. stock on Robinhood Chain, saying, "Bankr and long.xyz contributed through their respective trading pairs!"

Robinhood is the most suitable chain for this gameplay

No other chain is more suitable for U.S. stock memes than Robinhood.

Firstly, this is a chain run by an internet brokerage, and its stock genes are embedded deeply.

Secondly, Robinhood CEO Vlad has repeatedly stated that this chain aims to excel in RWA. While he has stated this, before the emergence of meme coins, this idea remained an idealistic vision far from reality.

In the past two weeks, the DEX trading volume on Robinhood Chain was approximately $1.845 billion and $1.826 billion. Among these, the trading volume of meme coins was $1.347 billion and $855.6 million, with the remaining volume almost entirely contributed by swaps between ETH and stablecoins. The trading volume of tokenized assets was merely a meager $2.32 million and $9.41 million.

The hype around meme coins will eventually face fatigue, while RWA needs to develop. The clever combination of U.S. stock memes merges both aspects, creating a new narrative that can bring vitality back on-chain.

Furthermore, considering Vlad's previous statements, his July 15 tweet welcomed builders who wanted to embed tokenized U.S. stocks and other RWA assets into on-chain applications, and his July 17 tweet expressed that one of Robinhood Chain's missions is to make RWA programmable.

Especially this image illustrates his vision of seeing both meme coins and RWA bloom simultaneously on Robinhood Chain, asking, "Why can’t both advance together?"

Past RWA projects often make retail investors feel distant or unable to make any money, but U.S. stock memes have effectively solved this problem. Previously, on Hyperliquid, the alt.fun that became popular for a while made people wonder if they would lose money if they used U.S. stock contract positions to issue meme coins.

If this thought first comes to mind for retail players, then the narrative has gone wrong from the start. The cultural genes and current atmosphere of each chain determine how similar playstyles will form different market interpretations and whether they can be viable. On Robinhood Chain, the combination of U.S. stocks and memes leads everyone to subconsciously think of it as the narrative that aligns best with Vlad's vision. Furthermore, using real tokenized assets as liquidity pools is indeed much better than contracts since they represent tangible shares. Therefore, if the narrative succeeds, with the increasing number of U.S. stock meme coins, in a sense, these meme coins "deflate" the stocks because the tokenized stocks are locked in the pools.

Similarly, one can also imagine that as it scales up, Robinhood will directly guide retail investors to put their stocks into liquidity pools for investment, directly bridging the dimensional wall between meme coins and stocks.

Currently, the total amount of $NVDA on Robinhood is only about 14,000, while the Uniswap v4 pool for $REAL and $AI has nearly 1,700 coins. This is still the situation where the U.S. stock meme narrative has not yet produced a single asset with a market cap of $10 million.

Target Tracking: The Competition between Bankr and long.xyz

At this stage, just observing these two platforms is sufficient, as they are the ones creating buzz and competing.

There are very few specific targets to watch. For Bankr, just focus on $REAL; the logic has been outlined earlier, which is that it is personally issued and promoted by the founder. However, the promotional pace has been rather slow, with large volume but the price has not surged wildly upwards.

As for long.xyz, first, the founder has clearly stated that there are no plans to issue a platform token:

Secondly, the two targets he personally bought are one, the $AI mentioned earlier, and the other is his own token $SPACEHOOD (paired with $SPCX).

The support for these two targets from long.xyz is very evident; they have already conducted an airdrop reward of $NVDA for long-term holders of these two tokens:

$AI has also been the leading target in this sector, consistently rising in the past few days, with a market cap reaching a peak of $6.15 million:

If a U.S. stock meme can break through and maintain a market cap of $10 million and continue upward, U.S. stock memes could very likely become the new popular gameplay on Robinhood Chain. If the vision becomes bigger, this approach has never been utilized in the market before; it could become Robinhood's unique weapon, just as every chain has its own特色. It might even lead new directions in the market, creating a new grand narrative opportunity. After all, the narrative of meme coins has not been updated in a long time.

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