TLDR
- Robinhood Chain hit 7.6M daily transactions just 11 days after its July 1 mainnet launch, closing in on Coinbase’s Base at 9.2M.
- A 90-day gas subsidy is driving growth by eliminating transaction costs until end of September 2026.
- Robinhood Chain took the No. 2 spot on Uniswap with over $500M in single-day volume, behind only Ethereum mainnet.
- HOOD stock closed at $111.97 on July 10, down 2.73% on the day.
- Q2 2026 earnings in early August will be the first report to include live mainnet data.
Robinhood Chain is moving fast. Just 11 days after its July 1 mainnet launch, the Arbitrum-based Ethereum Layer 2 recorded 7.6 million transactions in a single day. Coinbase’s Base logged 9.2 million that same day — a gap that is narrowing quicker than most expected.
Robinhood chain is crushing it.
> now $270M TVL driven primarily by Morpho
> DEX volume spiked to $580m daily yesterday
> 200K+ daily users
> 7.6m+ daily transactions.And it’s only been a week. https://t.co/uYm2e09Fq6 pic.twitter.com/Rr1iR0UfkF
— Jon Ma (@jonbma) July 10, 2026
HOOD stock closed at $111.97 on July 10, 2026, down 2.73% on the day. The stock had previously jumped roughly 10% after the initial Layer 2 announcement, and another 7% when Robinhood rolled out its agentic trading feature.
The engine behind these transaction numbers is straightforward: Robinhood is covering all gas fees for users through the first 90 days of mainnet. That removes the cost barrier for retail traders, DeFi users, and memecoin activity — pulling volume that would otherwise go to rival chains.
On-chain data from MSBIntel, verified by Token Terminal, confirms the 7.6 million daily transaction figure. Despite the subsidy, the chain still generated around $4,000 in daily protocol fees.
Beyond raw transactions, Robinhood Chain crossed $500 million in single-day Uniswap volume, claiming the No. 2 spot among all Uniswap deployments. Only Ethereum mainnet sits above it.
How Robinhood Chain Stacks Up Against Base
Base had a head start. It launched with Coinbase’s established exchange ecosystem and early integrations with apps like Uniswap and Chainlink. Robinhood is playing a different hand.
Robinhood entered with roughly 23 million brokerage users and a tokenized equities platform available in over 120 countries. Chainlink powers oracle pricing for 95 tokenized stocks — including Nvidia, Apple, and Alphabet. Uniswap handles liquidity. Morpho supports lending.
That combination of a large existing user base and real-world asset access is something Base did not have at launch. Whether it translates into durable on-chain activity is still the open question.
What Happens When the Free Gas Runs Out
The 90-day subsidy expires at the end of September 2026. That is when the real test begins.
FalconX estimated in April 2026 that Robinhood Chain could generate around $1.1 million in fees over six months — but noted the subsidy would reduce revenue in the early period.
Once users start paying transaction fees, volume will either hold up or pull back. The sustainability of current numbers depends on whether tokenized asset flows and DeFi activity can outlast the launch-week memecoin trading spike.
Analysts are pointing to early August and Robinhood’s Q2 2026 earnings report as the next key moment. It will be the first financial report to include live mainnet data, giving investors their first real look at whether blockchain infrastructure is contributing to revenue.
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