Robinhood Chain surpasses Ethereum in daily app revenues

Robinhood Chain generated $2.66 million in app revenue in 24 hours, leaving both Hyperliquid L1 and Ethereum behind. That is according to data from DeFiLlama. Three protocols together accounted for almost 88% of that revenue, demonstrating how concentrated activity on the network currently is.

In brief:

• Robinhood Chain generated $2.66 million in app revenue in one day, more than Hyperliquid L1 ($1.7 million) and Ethereum ($1.27 million).
• GMGN, Pons and Uniswap together accounted for around 88% of Robinhood Chain’s total app revenue.
• Base finished outside the top five with $438.000, almost six times less than Robinhood Chain.

Robinhood Chain overtakes established networks

According to DeFiLlama data, Solana topped the list with $5.07 million in app revenue over the past 24 hours. Robinhood Chain took second place with $2.66 million, followed by Hyperliquid L1 at $1.7 million and Ethereum at $1.27 million.

BSC and Polygon came in at $886.000 and $747.000 respectively. Base closed the ranking in seventh place with $438.000, almost six times less than Robinhood Chain. The rise of Hyperliquid as a serious competitor makes Robinhood Chain’s performance all the more striking, as that network is now also being surpassed.

Three protocols dominate revenue

Robinhood Chain’s app revenue is heavily concentrated among a handful of protocols. GMGN was the largest source with $1.11 million, followed by Pons with $930.587 and Uniswap with $306.877. Together, these three account for approximately 88% of the network’s total daily revenue.

For comparison, Ethereum was trading at $2.400 at the time of writing, down 0.8% in 24 hours. The fact that Robinhood Chain now overtakes it in terms of app revenue indicates that serious user activity is taking place on the relatively new network, although one day of data still says little about a structural trend.