Robinhood stock tokens fuel $440M memecoin frenzy, Bloomberg reports
- Published
- Updated
Robinhood-linked stock tokens and memecoin pairs reached about $440 million in daily volume at an early-September peak, while the combined market value of popular stock tokens tied to an S&P 500 ETF, Nvidia, SpaceX and Meta was about $69 million. That activity later declined from the peak, and the pairs were used in liquidity pools on Robinhood’s blockchain.
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What it means
Robinhood users and anyone trading on its blockchain would notice that stock-token and memecoin activity had already produced a large burst of volume, with an early-September peak around $440 million in daily trading. That means the onchain route linking stock tokens and memecoins was active enough to show up in market activity, not just in isolated trades.
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The total crypto market fell 2.3% in the 4 hours after the first headline, after rising 0.2% in the 2 hours before.
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Where this sits in the Bitcoin series
| When | What happened | Figure |
|---|---|---|
| 1.1 years ago | BTC at $115,227 high | today it sits -34.5% from there |
| 4 months ago | BTC at $58,566 low | today it sits +28.8% from there |
From what we have stored, starting 1.1 years ago.