Robinhood Chain Bridges Over $70M in Ethereum in First Week
The post Robinhood Chain Bridges Over $70M in Ethereum in First Week appeared on BitcoinEthereumNews.com. Ethereum News More than $70 million worth of Ether bridged onto Robinhood Chain within its first week of operation, hardening Ethereum (ETH) as the settlement layer for the brokerage’s new tokenized-finance network. On-chain data shows the Arbitrum-based layer-2, which launched on July 1 and uses ETH as its native gas token, drew that liquidity in days as bridged balances climbed roughly seventyfold week-over-week. Because every transaction on the network settles in ETH, sustained adoption channels recurring demand toward the base asset. Analysts tracking the flows describe the chain as a potential new demand sink for the second-largest altcoin, tying Robinhood’s user base directly to Ethereum block space. Total value locked on the network moved past $106 million after large institutional deposits into the Morpho lending protocol, on-chain data indicates. Daily trading volume on au