In comparison, according to Entropy Advisors, Robinhood Chain's gross margin has remained between 87% and 90% since its launch, and this data already includes the 10% AEP licensing fee paid to Arbitrum. The analysis points out that institutions chose Ethereum Layer 2 for a variety of reasons, but the lower operating security budget was an important consideration.
Comparing news, the Ethereum Layer 2 network Robinhood Chain recently showed abnormal growth in user data. Daily active addresses soared from the previous normal level of about 280,000 to 1.9 million on August 11, and further surpassed 5.2 million on August 12, drawing market attention. Judging from on-chain activity, this round of growth is mainly driven by three major applications: Uniswap (trading, liquidity pool, and Poolstrade launcher), StonKPit (stock token trading), and OpenSea (NFT trading). Among them, Uniswap contributed a relatively high level of activity. Robinhood Chain was initially connected to Uniswap as the main AMM liquidity infrastructure, while supporting OpenSea to trade stock tokens, NFTs, and community tokens. Robinhood's core strength is its native user portal. Through Robinhood Wallet integration, low threshold experience, and potential incentive mechanisms, the platform can quickly transform traditional financial users into on-chain users. Once combined with meme craze, new product launches, or ecological subsidies, it is easy to form short-term explosive growth. However, on-chain daily activity data also needs to be viewed with caution. A short-term surge of this scale may usually include a large number of robot addresses, mobile accounts, incentives for farming users, and low-quality interactive addresses. The actual number of effective users may be significantly lower than the statistical value. In the future, the market will focus on observing the continued growth of Robinhood Chain users. If activity is mainly driven by meme speculation, short-term activity, and gas subsidies, user data may decline significantly as popularity subsides.
Source: Blockworks Research Authors: Ryan Graham and Sam Schubert Compiled and organized: BitPushNews highlights The crypto business is getting cold: Although Robinhood's overall performance hit a record high, its crypto business is shrinking. Q2 Crypto business revenue fell 38% year over year to $100 million, accounting for only 8% of total revenue; retail crypto trading volume fell 36% year over year, and the share of crypto assets in total custodian assets (AUC) also fell to a record low of 7%. Robinhood Chain (Robinhood Chain) started strongly: Robinhood Chain had one of the strongest starts of the L2 expansion network in recent years, generating $3.6 million in real economic value (REV) in July, accounting for 38% of all L2 chain revenues counted by growthepie, surpassing mature networks such as Polygon and Base. Meme coins dominated early activity: Meme coins, not real world assets (RWA), drove Robinhood Chain's early activity. Meme coins accounted for 51% of July spot trading volume, while RWA only accounted for 5%; and 48% of RWA trading volume occurred in the “Meme Coin + RWA” liquidity pool. Monetization opportunities lie in the application layer: Robinhood's clearest monetization opportunities lie above the infrastructure layer. USDG has generated around $10.5 million in annualized interest income; Morpho has proven the great value of direct distribution of Robinhood's main app; while Lighter only uses the Robinhood Wallet (Robinhood Wallet) partnership, accounting for only 0.2% of its total perpetual contract trading volume. The company's overall performance has yet to be boosted: Robinhood Chain is currently unable to substantially improve Robinhood's underlying performance. Its total known annualized revenue is only $54.8 million, which is equivalent to only 14% of Robinhood's annualized crypto revenue. For the Robinhood Chain to have a real impact, Robinhood needs to scale up USDG, monetize access to main apps, or use the chain as a traffic entry point to introduce high-value products. Robinhood's crypto business at the crossroads is probably no company that has managed to capture the rise of retail investors as successfully as Robinhood. It has become synonymous with retail investment, and its underlying business is booming as a result. In the second quarter of 2026, Robinhood reported quarterly revenue of $1.31 billion (a record high), up 32% year over year and 92% from Q2 2024. This strong momentum comes not only from its core stock and options trading business, but also from its ever-expanding product matrix. Robinhood now has 13 different lines of business, each generating more than $100 million in annualized revenue. In fact, almost all transaction-based business lines experienced double-digit year-on-year growth in the second quarter... well, with one exception: cryptocurrencies. The crypto business, which once accounted for more than one-third of Robinhood's revenue, has now shrunk to the point where it's almost negligible for the company. In the second quarter of 2026, only 8% of Robinhood's quarterly revenue came from cryptocurrencies, the lowest share since the third quarter of 2023. The crypto business's share of Robinhood's revenue pie has declined so much that event contracts (event contracts), which were only launched last year, generated more revenue in the second quarter ($156 million) than the crypto business ($100 million). This weakness goes far beyond the crypto business's declining share of Robinhood's revenue. Overall, its core user base is losing interest in cryptocurrencies. While the reason behind it isn't unique to Robinhood, the extent of its weakness is shocking. This is particularly evident in trading activities. In the second quarter of 2026, retail crypto trading volume on the Robinhood App was just $182 billion, down 36% year over year, to record...
Source: Foresight News Author: Eric Original title: In 588 days, 300+ Web3 projects sank into the deep sea and sailed a thousand sails by the side of a sinking ship, and the disease tree is ahead of time. On the way to prosperity, any industry must go through a round of “dead bodies are everywhere” of elimination, and Web3 is no exception. According to Foresight News's review of public information, since 2025, at least 78 Web3 projects with a total funding amount of more than 1.5 million US dollars have been announced to be shut down. Of these, 69 projects that can confirm the amount of financing have taken away more than 900 million US dollars in total. If you count the small projects that didn't get financing from institutions and died silently, the total number is far over 300. This means that over the past nearly 600 days, an average Web3 project died every two days, or was famous or unknown. Of the 75 projects counted by Foresight News, 37 were shut down throughout 2025, while 41 were shut down in just half of 2026, and 17 were shut down in a single quarter in the second quarter, setting the highest number in a single quarter since this round of clearance. The “hot” DappRadar, Zapper, and established exchanges including BitMEX and AscendEX (formerly BitMax) in the last round of the bull market have all put an end to their business careers in nearly two years. The reshuffle did not stop as the market picked up; on the contrary, it accelerated. After receiving millions of dollars or even tens of millions of dollars in financing, every team that has stepped into this new world has had the proud ambition of “laughing at the sky and going out. Are our generation people from Fenghao?” But after a few years of being baptized in the market, these cold and cruel numbers are still in front of everyone's eyes. Emerging markets are also markets, and Web3 isn't more gentle than other industries. “Not being able to support myself” is the number one “cause of death”. Looking at the “cause of death” of 75 projects, the first one ranked was “insufficient funding,” with 31 projects falling on this issue, accounting for more than 40%; followed by “insufficient market demand,” and 17 companies shut down as a result. The two added up are close to two-thirds of the total. In other words, the vast majority of projects die for only one reason: they have never been able to support themselves. The expressions used by these projects in the shutdown announcement are similar. Many of them say “after trying our best to find a path to sustainable development, we have not found a path to sustainable development.” The subtext of this sentence is: At the beginning of the project, there was actually no idea how to do it, or the initial idea was very different from the actual situation in the market. Some industry observers rated this wave of bankruptcy as “a direct reflection of the failure of the business model and the breakdown of the capital chain, rather than simply fluctuating market sentiment,” which can be described as hitting the head. The investment logic of the primary market has completely changed in the past two years. The first question investors meet is no longer “how much room do you have for imagination”, but “how to make money.” The first batch of projects whose revenue did not cover operating costs or tell a new story fell after the financing floodgates were tightened. The OSL Institute summarized this shift in its annual report as the industry moving from the “first half” to the “second half”: a growth model driven by rising asset prices and innovative agreements came to an end, and the market moved “from narrative to delivery.” To put it more bluntly, the market and capital are no longer willing to pay for “experiments,” and the project's self-hematopoietic ability has become a necessity. Compared to the reason they wanted to be clear, the five projects that announced that the “model is unsustainable” seemed much more honest. For example, Goldfinch, which made unsecured credit loans, lost blood and shut down due to continued bad loans to emerging market companies; the social game Fantasy.Top, which is a popular social game that relies on tokens to motivate, makes it difficult to sustain the incentive model after the popularity recedes. The “unsustainable model” is a very interesting reason for the collapse. Most unsecured credit loans in traditional financial markets are based on big data or personal past credit records to set reasonable limits. As an emerging “lending company,” Goldfinch dares to provide unsecured credit loans in emerging markets without credit data. This is not a problem that can be solved by cryptocurrency and Web3 alone. Obviously, the reason for the birth of this company with a total financing amount of nearly 40 million is hard to convince. I don't know how top institutions like a16z were fooled into entering the market. Additionally, some companies have died due to regulation. Mango Markets shut down through a community vote after reaching a settlement with the SEC...
Comparatively, ENS DAO has voted to pass the “Next Era of ENS DAO (Next Era of ENS DAO)” proposal and completed on-chain implementation, and officially established the ENS Foundation (ENS Foundation) to push the ENS ecosystem into a new stage of governance. According to the proposal, the ENS Foundation will become a fully operational organization with a full time executive director, a team of professionals, and a 5-member board of directors responsible for the institutionalization of ENS in laws, policies, standard-setting, and brand protection. ENS said that over the past decade, ENS has developed into an important infrastructure for the Ethereum ecosystem, has millions of registered domain names, and is integrated by numerous wallets, applications, and Layer 2 networks. However, the DAO itself lacks legal entity status and cannot effectively participate in the governance of the Internet naming system, sign institutional cooperation agreements, hire full-time employees, protect trademark rights, or participate in regulatory discussions. The ENS Foundation was established to fill this gap. In the future, the Foundation will be responsible for: 1. Representing ENS in ICANN, IETF, W3C and other Internet standards organizations to promote the recognition and management of “.ens” top-level domain names (TLDs); 2. Participate in policy discussions and communicate with regulators and government departments as a legal entity; 3. Hold and protect ENS trademarks and intellectual property rights to combat phishing and impersonation; 4. Hire full-time employees to be responsible for ecological operations, funding plans, and fund management; 5. Become an official partner between traditional institutions such as registration agencies and standards organizations and the ENS ecosystem.
Comparative news, according to SosoValue data, the overall crypto market sector showed a slight upward trend. Bitcoin (BTC) rose 0.57% to break through $65,000; Ethereum (ETH) rose 0.48% to break through $1,900. The Meme sector showed outstanding performance, rising 0.36% in 24 hours. Among them, Tutorial (TUT) rose 52.38%, Pump.fun (PUMP) rose 11.39%, and Pepe (PEPE) and FLOKI rose 2.47% and 2.81% respectively. In other sectors, the Layer1 sector rose 0.27% in 24 hours, with Solana (SOL) up 1.44%; PayFi up 0.25%, Monero (XMR) up 3.8%; CeFi up 0.14% and Aster (ASTER) up 1.59%; Layer2 sector down 0.23%, zkSync (ZK) up 2.41%; DeFi sector down 0.91%, Curve DAO (XMR) CRV) rose 6.39%; furthermore, the AI sector fell 1.76%, but Worldcoin (WLD) rose 6.61%; GameFi fell 3.97%; within the sector, Audiera (BEAT) fell 6.65%, and WEMIX fell 3.08%. The crypto sector index, which reflects the historical market of the sector, shows that the ssINFT, SSImeme, and SSIAI indices rose by 2.85%, 0.63%, and 0.6%, respectively.
Comparing news, Alex Svanevik, CEO of blockchain data analysis agency Nansen, said in a recent interview that Robinhood is unlikely to launch a token because it may compete with its listed company HOOD stock. Previously, the market speculated that Robinhood might follow some crypto projects to launch ecological tokens, but at present, the company is more likely to use blockchain as an underlying technology tool rather than establish a business system around tokens. Alex Svanevik pointed out that the Layer 2 network currently launched by Robinhood already operates on the Ethereum ecosystem and has gas tokens to pay network fees, so there is no need to issue an additional platform token. The core purpose of Robinhood's blockchain infrastructure is to use blockchain technology to enhance product capabilities, rather than to finance or build a new economic model by issuing tokens. This article is sponsored by GENG, Build Your Fortune on GENG (https://geng.one)
Comparing news, according to Decrypt, Johann Kerbrat, head of Robinhood's crypto business, said in an interview that Robinhood Chain performed strongly in the month it went live. He pointed out that the chain's position is to balance formal financial products (tokenized stocks, derivatives) with meme coins — this is exactly what CEO Vlad Tenev's “Two Wolves” post expressed. One month after its launch, Robinhood Chain's total hedged volume (TVL) is close to $800 million and has processed more than 200 million transactions. Kerbrat said Ethereum Layer-2 was chosen to focus resources on product development while relying on existing security and decentralization. Robinhood's ultimate goal is to reach users who have never used cryptocurrency, rather than competing with other chains for existing users. “If we could see tens of millions of customers try this chain, that would be a huge success for us.”
Comparative news, according to SosoValue data, the crypto market sector had mixed ups and downs, and the DeFi sector rose 1.61% in 24 hours. Among them, ZEROBASE (ZBT) rose 20.98%, SOSOValue (SOSO) rose 12.37%, and Uniswap (UNI) rose 5.08%. Meanwhile, the Layer 2 sector rose 0.22%, and Mantle (MNT) rose 0.85%. Furthermore, the Layer 1 sector fell 0.33%, but Aptos (APT) rose 1.89%; PayFi fell 0.7%, Monero (XMR) was relatively strong, up 3.43%; CeFi fell 0.96%, and Gate (GT) bucked the trend; Meme sector fell 1.46%, Meme (M) rose 2.49%; the NFT sector fell 3.85%. Within the sector, Audiera (BEAT) continued to fall 10.28%
Comparing the news, as time entered the second half of the bear market, the cryptocurrency market experienced a clear round of industry clearance. Today, Shaw Walters, founder of ElizaOS (formerly ai16z), announced that the AI16z/ElizaOS token has completely died, and the associated foundation will gradually cease operations. This is another iconic exit event following the shutdown of over 60 well-known crypto projects in the first half of the year. According to statistics, in 2026, more than 60 well-known crypto projects, public chain/Layer2, DeFi protocols, wallets, NFT platforms, and DAO tools have announced that they have stopped operations or filed for bankruptcy, and the pace of shutdown accelerated markedly in late July. This round of exit covered almost every track. On the PT1 side of centralized trading, derivatives pioneer BitMEX announced on July 23 that it will officially close on September 23, ending 11 years of operation; AscendEX stopped trading on July 1 due to failure to obtain an EU MiCA license; and BitMart initiated a phased shutdown. In Layer1/Layer 2 and infrastructure, Polygon zkEVM, Botanix, Sophon, Powerloom, MilkyWay, etc. have been suspended one after another. In the DeFi sector, Radiant Capital, Step Finance (after being hacked for around $40 million), Ionic Protocol, Everclear, etc. withdrew due to security incidents or liquidity exhaustion. Wallet tracks include Secondfi, Ctrl Wallet, and Leap Wallet closed due to security breaches or strategic adjustments. NFTs, games, and tool projects such as Foundation, Fishing Frenzy, Tally, and Zapper have not been spared. The main reasons focus on three points: the business model fails to generate sustainable revenue (even if some projects have had high monthly activity or transaction volume), the outflow of users and funds due to the cooling of the racetrack, and hacker attacks directly cut off the funding chain. Many projects have received millions to tens of millions of dollars in financing, but it is difficult to prove the product's market fit after the market retracted. Unlike a series of explosions in leverage in 2022, this round was more about starving to death — orderly or forced exits after running out of funds. This article is sponsored by GENG, Build Your Fortune on GENG (https://geng.one)