HOOD stock recovers as Robinhood chain hits record fees
Daily fees is at $3.75M, making it a huge revenue machine.
Robinhood Chain is the project of the hour!
The latest numbers make Robinhood Chain the ideal revenue engine, and it looks like it has helped HOOD stock shoot up.
Robinhood Chain fees hit $3.75M
Robinhood Chain had its strongest fee day on September 1. That’s $3.75 million in daily fees and an extended ATH streak of four straight days!
But that’s not all.
The more interesting part is what this means for Arbitrum [ARB].
Robinhood Chain usually shares 10% of its fees with the Arbitrum Foundation. 80% goes to the Arbitrum DAO and the remaining 20% to the developer fund.
That means about $370K in daily revenue for the Arbitrum ecosystem via this route. For context, Arbitrum generated less than $15,000 in fees… on the same day!
Memecoin-stock pairs leading the race?
Daily RWA-related volume on Robinhood Chain reached $390 million. Memecoin-stock pairs alone accounted for $217 million!
Tokenized stocks added another $127 million in daily volume; both categories hit ATHs.
The market cap of RWA assets on the chain moved past $84 million as well.
Memecoin trading is bringing more money and activity. Some of that is also helping tokenized stocks and other RWAs grow.
HOOD stock holds above $105
HOOD stock traded at $105.73 at the time of writing, up about, a rise of 2.2% on the day. The stock had recovered from below $90 lows, but it was still trading under the recent highs.
The 14-day RSI was near neutral at 55. MACD was also above its signal line, with the histogram still positive.
While there’s minimal proof of a breakout, it’s evident that buyers are still holding some control. If Robinhood Chain keeps its pace, investors will have another fundamental angle to watch alongside the HOOD stock chart.
Final Summary
- Robinhood Chain hit $3.75M in daily fees; RWA volume went up to $390M.
- HOOD stock held above $105 as the platform continues to succeed.
