Robinhood Chain reached a fresh activity milestone on Aug. 30, recording 5.52 million transactions in 24 hours as approximately 22,600 tokens were created and memecoin platforms accounted for much of the network’s economic activity.

The Ethereum-compatible network is only two months old, yet its early growth is increasingly being driven by speculative token markets rather than tokenized equities, which Robinhood initially identified as the blockchain’s key purpose.

Data from DefiLlama shows that apps on Robinhood Chain generated around $2.66 million in revenue during the day. That placed it behind Solana at $5.07 million but ahead of other major networks. Ethereum’s apps generated roughly half the amount, while Base-based applications earned about one-sixth.

The figures measure revenue earned by applications from users and should not be interpreted as revenue generated directly by Robinhood.

Trading activity was also elevated. Decentralized exchanges on the network processed about $875 million in volume on Aug. 30. Uniswap handled the largest portion, with roughly $432 million moving through its newest version and another $357 million through the previous version.

The number of new token launches also surged. Pons, a Robinhood Chain application that enables users to create and trade tokens directly from their wallets, recorded approximately 22,600 token creations in one day. That marked a gain of more than 40% from the previous day.

Most of the new tokens are speculative memecoins rather than digital representations of stocks or traditional assets. Pons supports tokens built around animal themes, internet humor, viral trends and whatever narratives happen to attract traders.

GMGN, Pons and Uniswap generated about 88% of the chain’s total app revenue during the period.

Robinhood launched the network on July 1, with tokenized stocks presented as its flagship application. The blockchain was designed to bring traditional financial assets onchain and make them available for blockchain-based trading.

However, memecoins quickly emerged as a dominant use case. Within a few weeks, speculative tokens were accounting for a significant portion of trading, while tokenized stocks remained a relatively small part of the ecosystem.

The trend has accelerated during the broader crypto market rally. Cash Cat, one of the largest memecoins on the network, more than doubled in the week leading up to Aug. 25 as traders moved further into smaller and higher-risk assets.

Robinhood Chain has also seen its transaction count rise rapidly. Daily activity has expanded from well below 1 million transactions in early July to more than 5 million.

The latest data shows a notable shift in the network’s early trajectory: instead of tokenized stocks being the primary source of activity, memecoin launches and speculative trading have become the dominant drivers.