Real-world asset trading on Robinhood Chain set a new daily record on August 25, with onchain volume reaching $85.1 million, according to a Dune dashboard compiled by analyst adam_tehc. Tokenized equities drove the surge: $66.6 million came from stock trading, $10.4 million from memecoin-versus-stock pairs, $4.8 million from ETFs and treasuries, and $3.3 million from commodities.
The composition of volume has shifted dramatically since late July. On July 26, memecoin-versus-stock pairs accounted for 73% of daily volume, reflecting speculative churn. By August 25, that share had fallen to 12%, while direct stock trading climbed to 78%. The change suggests a different user base: traders are increasingly treating tokenized equities as investment instruments rather than short-term trading chips.
Two factors supported the growth. First, Robinhood Crypto added 100 new stock tokens on August 13, expanding the total to more than 190. Second, liquidity deepened on Uniswap, which now holds close to 99% of stock token liquidity on the chain, with Uniswap v4 representing about 73%. Correlated liquidity pools pairing individual stocks against SPY reduce impermanent loss, tightening spreads and allowing larger trades to fill with less slippage. Ten of those pools generated $33 million in volume from more than 11,000 traders within 12 days.
The timing is also tied to Nvidia earnings after the U.S. close, since NVDA is among the most traded stock tokens on Robinhood Chain. A 24/7 onchain venue lets traders position when traditional Wall Street is closed. Regulatory developments are adding to the backdrop: Vlad Tenev pressed U.S. regulators for a clear tokenized equities framework on August 18, and Coinbase launched tokenized Apple, Nvidia, Meta, and Alphabet shares on Base the same week. Analysts are watching whether Robinhood Chain’s roughly $25 million August baseline resets toward $40 million after the Nvidia-driven spike, as a sign of durable user growth.
