Analysts expect Robinhood to post about $1.25 billion in revenue and earnings of roughly $0.40 per share. Coinbase is projected to generate around $1.3 billion in revenue while recording a loss of about $0.36 per share.

Both companies entered public markets in 2021 through different business models. Coinbase centered its operations on cryptocurrency trading and custody. Robinhood built its platform around commission-free brokerage services before expanding into crypto and digital assets.

Robinhood Gains Ground in Retail Trading

Artemis data shows Robinhood has historically received a higher enterprise value-to-revenue multiple than Coinbase. That valuation reflects investor treatment of Robinhood as a broader fintech company rather than a business mainly tied to crypto trading.

The difference has become more visible following analyst downgrades of Coinbase. Meanwhile, Mizuho analyst Dan Dolev said Robinhood could become the brokerage industry’s first “hyperscaler.”

Trading activity expanded at both firms between early 2024 and the first quarter of 2026. Robinhood’s quarterly trading volume rose from about $261 billion to more than $704 billion. Coinbase volume increased from roughly $185 billion to around $517 billion over the same period.

Those figures show Robinhood captured a larger share of retail trading activity. Both companies have invested heavily in tokenized equities as they develop revenue sources beyond transaction fees.

Coinbase Expands Stablecoin and Services Revenue

Coinbase has reduced its dependence on trading commissions through subscription and services products. Artemis data shows revenue in that segment climbed from about $103 million in mid-2021 to nearly $747 million by the third quarter of 2025.

Stablecoin revenue also increased from approximately $77 million in late 2022 to more than $364 million before easing slightly this year. These businesses helped offset weaker trading activity, while customer assets on the exchange stayed above bear-market lows.

Coinbase disclosed that more than half of first-quarter subscription and services revenue was connected to USDC. Banks and major payment companies are also introducing dollar-backed stablecoins.

Chief Executive Brian Armstrong has shifted Coinbase toward financial infrastructure after earlier efforts to build a social network through Base failed.

Robinhood Builds a Wider Global Platform

Robinhood announced Robinhood Chain, an Arbitrum-based Layer-2 network, alongside tokenized United States stocks for customers in more than 120 countries. The company says it serves nearly 28 million customers across 38 countries.

Chief Executive Vlad Tenev described tokenization as a possible “supercycle” for capital markets. Crypto contributes about 12% of Robinhood’s revenue, with brokerage services, options, prediction markets, and other products providing additional income.

That broader mix helps explain Robinhood’s higher valuation despite revenue levels that closely resemble Coinbase’s.

The post Coinbase and Robinhood Earnings Put Crypto’s Next Phase in Focus first appeared on Coinfea.

Token Terminal data shows the network reached 329,200 holders, moving ahead of Solana at 281,400 and BNB Chain at 214,600.

Across the sector, tokenized stock holders increased by about 68.5% from 554,900 at the beginning of July to 934,800. Robinhood Chain accounted for the largest share of that expansion after going live on July 1.

Solana had led the category through much of the previous year, while BNB Chain and Ethereum also contributed to steady holder growth. Robinhood Chain changed that ranking within four weeks and now represents nearly one third of all tokenized stock holders.

Source: Token Terminal

Robinhood Chain Converts Brokerage Reach Into Holders

Robinhood Chain’s growth reflects the distribution power of Robinhood’s existing brokerage platform rather than an infrastructure advantage over rival networks. The company already serves roughly 28 million customers, giving tokenized equities immediate access to an established audience.

Users could gain exposure through an existing app without managing a separate wallet, bridge, or gas fee. That process allowed brokerage customers to become onchain holders with fewer steps than users entering through crypto native platforms.

Other networks depend on existing cryptocurrency users choosing to purchase tokenized equities. Robinhood instead introduced the products to stock investors already active inside its platform, helping convert app distribution into measurable blockchain holder growth.

High Holder Share Contrasts With Lower Asset Value

Robinhood Chain controls about 35% of tokenized stock holders, yet DWF Labs data places assets on the network near $44 million. Ondo holds about $857 million despite serving far fewer wallets.

Based on the reported figures, average holdings on Robinhood Chain stand slightly above $130 per wallet. The pattern reflects many retail accounts holding relatively small tokenized stock positions, including exposure to companies such as Tesla and Nvidia.

The comparison also shows that holder count and capital value measure different parts of market adoption. Robinhood Chain leads in distribution, while Ondo holds substantially more assets through a smaller wallet base.

Memecoins Continue To Drive Trading Activity

Trading activity on Robinhood Chain still leans heavily toward memecoins, continuing the pattern seen earlier in July. Tokenized equities are expanding on top of that speculative trading base rather than replacing it.

Memecoin activity provided early liquidity and visibility for the network, while tokenized equities added a broader financial use case. However, data shows that the chain’s leadership remains strongest in wallet numbers rather than asset value.

The latest rankings therefore place Robinhood Chain first by tokenized stockholders, while networks such as Ondo remain far ahead by assets held. The gap highlights the difference between broad retail access and concentrated capital deployment across tokenized equity platforms.

The post Robinhood Chain Leads Tokenized Stockholders After Rapid First Month first appeared on Coinfea.

Trading activity has also increased across several tokenized equities, while memecoins and stablecoins continue to dominate decentralized exchange volumes.

On-chain data shows larger transactions moving into the asset category the network was built to support. Meanwhile, infrastructure developers are raising capital and preparing products aimed at Robinhood Chain users as competition grows around its expanding trading base.

Tokenized equities record stronger volumes

DefiLlama data shows real-world assets on Robinhood Chain climbed to approximately $70 million from the low tens of millions recorded soon after launch. Tokenized assets previously represented about 4% of network activity, with memecoins and stablecoins accounting for most trading.

Tokenized GameStop led daily stock volume with about $26.6 million. Nvidia followed with $14 million, while SpaceX recorded $6.4 million. Twelve tokenized stocks now process more than $500,000 in daily volume, and five have crossed the $1 million level.

The broader network also expanded during the same period. DefiLlama placed total value locked near $312 million after it tripled since mid-July. Daily decentralized exchange volume moved above $600 million, while Token Terminal reported more than 138 million transactions over the previous 30 days.

Memecoins retain control of DEX activity

Despite stronger tokenized stock activity, speculative assets remain the network’s largest trading category. DEX Screener data showed Hoodrat, Vladhood, and Swole Doge ranking above tokenized stocks by volume.

Earlier network figures showed Robinhood Chain held nearly $400 million in stablecoins and reached $431 million in total value locked within three weeks of launch. FalconX said the network processes about 6 million transactions daily and serves more than 250,000 daily active users.

Using Artemis data, FalconX estimated decentralized exchange volume at almost $9 billion. The network also exceeded Coinbase’s Base in selected activity measures. Nevertheless, memecoins still generate more than 80% of decentralized exchange trading, leaving tokenized equities as a smaller share of overall activity.

Infrastructure projects secure fresh funding

Memecoin.Fun announced a $3.5 million strategic funding round led by Becker Ventures. BitValue Capital, Mason Labs, Negentropy Capital, and angel investor Billy Wen also participated.

The deal used the USDG token, although Memecoin.Fun did not disclose its valuation or investment terms. The funding will support a Robinhood Chain launchpad, cross-chain bridge infrastructure, and research for a multichain memecoin platform. No launch dates were provided.

Competition is also increasing as Pons prepares its V2 upgrade. Planned features include an Ether-based bonding curve, Uniswap V4 integration, ETH creator payments, and trading pairs connected to tokenized real-world assets. The planned products reflect developer activity around the network’s trading volumes and tokenized asset infrastructure across its expanding trading ecosystem.

The post Robinhood Chain tokenized stocks expand fivefold as trading accelerates first appeared on Coinfea.

Dune data shows the network trailed only BNB while surpassing Base and Polygon in daily wallet activity.

The result represents 191,855 wallets from a combined 864,665 across tracked EVM chains. It comes less than three weeks after Robinhood Chain launched its mainnet on July 1.

Source: Dune 

Since launch, the network has also moved ahead of Base in daily transactions among Ethereum Layer 2 networks. Around 26,000 new tokens have launched on the chain each day on average, supporting rapid trading activity.

Robinhood Chain Expands Through Existing Distribution

Robinhood entered the market with access to about 28 million users, giving the network immediate distribution. Major decentralized finance protocols, including Uniswap and Morpho, were available from the first day.

Morpho currently holds most of the network’s roughly $266 million in total value locked. This early lending and liquidity infrastructure gave users access to more than token creation and spot trading.

Source: DefiLlama

Many new blockchains begin as execution layers before lending markets and deeper liquidity become available. Robinhood Chain launched with both services already operating, providing additional uses for wallets after initial token-launch activity.

Launchpad Leadership Changes Without Slowing Wallets

Noxa initially dominated Robinhood Chain’s launchpad market during the first two weeks. No competing platform approached its early activity, and Noxa briefly generated more fees than Pump.fun, Solana’s leading launchpad.

On July 11, Noxa stopped accepting new token launches after bots created a large wave of copycat assets. Its website and related domains went offline several days later.

Pons. family then moved into the leading position. By July 20, the platform recorded $90.2 million in launchpad token volume.

Noxa’s departure pushed CASHCAT, the network’s main memecoin, and overall DEX volume below previous peaks. Daily active wallet numbers still increased during the transition, showing that activity continued while launchpad leadership changed.

Active Wallet Data Carries Important Limits

Daily active wallets do not equal individual users. One person may control several addresses, meaning the 191,855 figure measures wallets rather than verified people.

Launchpad activity also introduces security concerns. Noxa’s closure demonstrated how quickly a leading platform can disappear after gaining a dominant market position.

Robinhood originally presented the chain as infrastructure for tokenized real-world assets. Those assets currently total about $49 million, compared with approximately $266 million in network TVL.

Launchpad trading therefore accounts for much of the visible activity behind the wallet ranking. The July figures confirm strong wallet participation and an established DeFi base, while real-world assets remain a smaller part of current network activity.

The data does not establish whether tokenized assets will become a larger share of the chain’s activity as the network develops over time.

The post Robinhood Chain Ranks Second in Active Wallets Across EVM DEXs first appeared on Coinfea.

“Robinhood trenches are brutal,” BubbleMaps, an on-chain analytics firm, wrote on X, calling the memecoin market “a tough game.” Robinhood Chain, an Arbitrum Orbit layer-2 blockchain built on top of Ethereum to cut fees, went live on July 1, 2026. However, of the 164,538 traders active across the network’s top 50 tokens, only 37% have made a profit.

The remaining 63% have lost money. Cryptopolitan reported CASHCAT (CASHCAT), the token modeled on Robinhood’s old cat mascot, jumped 718% in 24 hours to a $68 million market cap on July 8, when Robinhood CEO Vlad Tenev publicly warmed to memecoins on the network. However, since then, the token has bled out.

BubbleMaps says traders are facing Robinhood trenches

The token is trading at roughly $0.0557, down about 75% from its July 11 all-time high of $0.2252, with a market cap near $55.7 million and about 4,840 holders. Around 25,000 wallets reportedly held CASHCAT on July 13, when the token carried a market cap near $150 million. Beyond tallying winners and losers, BubbleMaps ran distribution checks on individual tokens and found that CASHCAT shows no major holder clusters and a solid spread of ownership.

A handful of clusters that were present at token launch have already sold out of their positions. The checks show that the losses on CASHCAT come from ordinary price action, not from a concentrated group sitting on the supply. CASHDOG, on the other hand, was flagged and labeled as heavily bundled. BubbleMaps said its holders were funded through one-time contracts, implying a coordinated setup rather than organic buying.

Robinhood is currently covering gas fees for wallet transactions during the first 90 days in order to pull in more users. That incentive, paired with the CASHCAT frenzy, has brought $3.1 billion in volume over seven days to the decentralized exchanges on the chain. Meme tokens such as Wen Lambo, Tendies, and Hoodrat follow closely behind. DeFiLlama pegged the total value locked on the chain at about $227 million on Saturday.

The tokenized stocks Robinhood actually built the chain to sell have drawn far less interest so far, accounting for just $12.66 million in market cap on the network. At its peak, CASHCAT alone was worth twelve times that figure. The industry is observing whether activity on the chain remains constant once the gas subsidy expires in late September and traders start covering their own fees.

The post BubbleMaps warns about brutal top tokens on Robinhood first appeared on Coinfea.

The network also surpassed $3 billion in decentralized exchange volume. Its 24-hour DEX volume ranked third among all networks, behind Binance Smart Chain and Solana, according to DeFiLlama. Growthepie data showed Robinhood Chain processing more than seven million transactions, while Base recorded 6.32 million.

The climb placed the new network above a Coinbase-backed Layer 2 that has operated for two years. Much of the early growth developed alongside subsidized gas fees and rising memecoin trading rather than the tokenized-stock activity that shaped the chain’s launch strategy.

Source: Growthepie

Gas Waiver Drives Early Transaction Growth

Robinhood is covering gas costs for eligible wallet users completing swaps, bridges, and perpetual trades during the first 90 days after launch. The promotion runs through late September and reduces costs for users accessing the network through Robinhood Wallet.

Transactions still generate processing and Ethereum settlement costs. Robinhood pays part of those expenses for qualifying wallet users, while other participants pay gas in ETH. Network fees exceeded $300,000 on July 11, reflecting the total cost generated across the chain.

The subsidy, combined with strong memecoin demand, helped Robinhood Chain briefly become the second-largest Uniswap deployment behind Ethereum mainnet. The network also moved above Hyperliquid in daily DEX volume during the same period.

Memecoin Trading Leads Network Activity

Robinhood developed the chain around round-the-clock tokenized equities, now available in more than 120 countries. Early usage has instead centered on memecoins and high-frequency trading.

After Robinhood chief executive Vlad Tenev described memecoins as a legitimate part of the chain’s market on July 8, several launchpads recorded an average of about 18,600 new tokens per day. Twenty memecoins on the network now hold market capitalizations above $1 million.

Source: Dune

The transaction increase has reflected low fees, new token launches, and short-term trading demand. The July 11 fee rise also tracked the memecoin rally rather than a stable pattern of tokenized-equity transfers.

September Marks the Key Usage Test

The current transaction lead emerged during a launch period that included free gas, a new blockchain, viral memecoin activity and access to roughly 23 million Robinhood brokerage users.

Base also experienced launch-period speculation before building a broader developer ecosystem. Robinhood Chain’s activity will become easier to measure after the gas promotion ends, and users begin covering their own transaction costs.

Robinhood’s second-quarter earnings report in early August will be the first company update to include live mainnet activity. September will provide a clearer comparison once the 90-day subsidy expires and transaction data reflects activity without the same fee support.

The post Robinhood Chain Overtakes Base in Daily Ethereum L2 Transactions first appeared on Coinfea.

The company plans to let customers connect third-party AI agents to create personalized crypto trading strategies, monitor markets, manage portfolios, and execute trades within limits set by each user.

The service will carry no additional cost, although Robinhood has not announced a launch date. The move extends its Agentic Trading platform, which entered beta testing for equities in May and has attracted more than 70,000 AI agent accounts.

Robinhood Builds Crypto Trading Around MCP

Robinhood will use its Model Context Protocol to connect AI tools with its trading infrastructure. The system acts as a sandboxed middleware layer, restricting each agent to designated funds and keeping those assets separate from a customer’s investments.

Users can place agents in dedicated accounts and track results through live profit-and-loss updates. The agents can assess market conditions and trade around the clock while operating within the customer’s risk tolerance.

Chief Executive Vlad Tenev has said autonomous financial agents are developing quickly and could eventually match the capabilities of human traders. Robinhood Crypto vice president and general manager Johann Kerbrat said the technology could make markets easier for retail investors to access.

Reports indicate Coinbase is developing similar AI agent functions, as financial companies increase their use of generative AI for research, financial guidance, and portfolio management.

Robinhood Broadens Products and Global Reach

The AI initiative follows Robinhood’s expansion into new markets and products. The company launched in Europe and the United Kingdom last year, introduced crypto services in Canada, and secured a license in Singapore.

“We see a lot of demand for this idea of having a very simple, easy-to-use UX and UI and putting the customers first and not adding a lot of fees like some of our competitors,” said Kerbrat.

Robinhood has also expanded commodity perpetual futures and stock tokens that trade around the clock. Eligible European customers can access perpetual contracts linked to gold, silver, oil, and foreign exchange markets. The company’s stock rose 7 percent on July 2 after the product announcements.

Robinhood Chain Supports Onchain Development

Robinhood launched the public mainnet for Robinhood Chain, a Layer 2 blockchain built on Arbitrum. The network gives developers a ready-to-use environment for blockchain applications and connects directly with Robinhood’s onchain users.

“Decentralized finance unlocks possibilities beyond what traditional finance can offer, but historically, it has required technical expertise to navigate. We’re bringing the best of traditional finance and DeFi together, and in doing so, expanding financial ownership to every corner of the globe,” Kerbrat said.

Robinhood has also added Stock Tokens to Robinhood Wallet in more than 120 countries, subject to local regulations.

The post Robinhood AI Crypto Agents Expand Autonomous Trading Access first appeared on Coinfea.

The figure was about 10 times higher than the $58.9 million recorded a day earlier, Dune data showed. Uniswap founder Hayden Adams tweeted that the volume seen yesterday beat every network except Ethereum mainnet.

Source: Dune

CASHCAT Drives Robinhood Chain Activity

The sharp rise was led by CASHCAT, a memecoin built around Robinhood’s old “Cashcat” mascot. The token climbed more than 10x within 24 hours, pushing its market capitalization above $100 million. Its rally helped lift the chain’s Uniswap V3 WETH pair from the low tens of millions to $212.3 million in a single day.

The move came as Robinhood CEO Vlad Tenev embraced meme activity, saying the RWA-focused chain “works great for memes too.” Pump.fun added Robinhood Chain support on the same day, letting traders buy with SOL and skip the bridging friction that slows retail access to a new network.

The activity contrasted with the chain’s tokenized asset market. DeFiLlama data placed Robinhood Chain’s RWA market capitalization at $12.62 million. At its peak, CASHCAT’s market cap was about eight times larger than the RWA market on the network.

New Wallets and Tokens Surge

The trading spike spread beyond one asset. Daily active addresses neared 200,000 on July 8, while more than 140,000 addresses made their first transaction on Robinhood Chain that day. Nearly 16,000 new tokens were created within 24 hours, and seven memecoins crossed $1 million in market capitalization.

The rush showed how quickly memecoin activity can change the profile of a young network. One fast-rising token attracted traders, launch tools, wallets, and liquidity, turning a chain that had been clearing tens of millions into one processing more than half a billion dollars in Uniswap volume. Robinhood built the network for equities, but a cat-themed token became the main driver of its breakout day.

RWA Market Trails Memecoin Demand

Robinhood Chain was introduced as a network for real-world assets and tokenized stock trading. The July 8 surge instead showed that memecoin demand can dominate early usage, even on infrastructure built for another purpose. CASHCAT’s rally brought attention to the network and helped create a volume record within its first week.

The remaining issue is retention after the CASHCAT rally slows. The figures from July 8 showed strong new user activity, heavy token creation, and a sharp increase in DEX volume. Yet the RWA market on the chain stood at $12.62 million, far below the memecoin’s peak value. What the record means will depend on July 9 and the days after.

The post Robinhood Chain DEX Volume Hits $563.9 Million as CASHCAT Leads Surge first appeared on Coinfea.

However, not all users got the prizes as the window turned into a disaster for some, specifically for those who showed up early. The Robinhood app crashed or froze, while some reportedly got stuck on a blank screen. Others were told they “missed the rewards” even though they were already in. And this happened during the one moment users were supposed to claim their prizes, according to multiple posts on X by users.

Robinhood shocks Wall Street with stock performance in 2025

Along with DOGE, Robinhood added luxury items to the mix. People could also win Rolex watches and Apple AirPods, turning what was supposed to be a crypto giveaway into a flex-off.

Away from the giveaways, Robinhood’s stock (HOOD) isn’t feeling festive. It closed at $118.13, down 1.92% from the previous day. That drop was worse than the S&P 500’s dip of just 0.03%. The Dow fell by 0.04%, and the Nasdaq slid 0.09%. Robinhood lost more ground than all of them.

In the past month, HOOD has dropped 6.05%, even as the finance sector gained 4.37% and the S&P 500 rose 2.57%. But earnings are coming up. Robinhood is expected to report Q4 2025 EPS of $0.57, which would be 5.56% higher than the same quarter last year. Revenue estimates sit at $1.29 billion, up 27.08% year-over-year. However, some analysts remain optimistic.

Brian Bedell at Deutsche Bank still has a buy rating and just bumped the target price from $150 to $160. TipRanks says Bedell has a 61.8% success rate and an average return of 19.4% over the past year. Meanwhile, financial analyst Carter Worth thinks Robinhood is in a “bullish-to-bearish” reversal, and could drop to around $100. Carter points out its weak performance compared to the S&P 500, and warns that the uptrend since April’s low is breaking. HOOD hit $29.66 back in April, then exploded to $153.86 in October, a 419% rally in just six months.

The post Robinhood gifts users Bitcoin and Dogecoin in ‘Hood Holidays’ promo first appeared on Coinfea.

In its recent filing update, the company showed that shares will be made available on Robinhood, Webull, and Moomoo. This makes Gemini one of the few crypto firms to offer such a massive slice of its initial offering to non-institutional buyers. Gemini initially planned to allocate just 10% to them, but after a week of marketing, the company decided to triple it. At the same time, Gemini also pulled in Nasdaq Inc. through a $50 million private placement, a sign that it’s using every tool it can to give this IPO momentum.

Gemini increases retail allocation as it ties in retail platforms

Gemini is planning to use a strategy that worked for some companies and wrecked others. Robinhood, during its own IPO in 2021, gave 35% of shares to its customers through its IPO Access program, with the move only working for a week. The price rose above $70, then dropped to under $7 within a year. Only in 2025 did the stock rebound above $100, but only long-term holders saw that comeback.

This kind of retail-first approach also echoes what Bullish, another crypto platform, did in August. Bullish allocated 20% of its IPO to individuals and high-net-worth clients. It opened at $68, up 84%, before falling to $52.62 by the middle of the week. Gemini is even planning to go harder, and they are betting that retail buyers, many of whom are users on the platform, will bring stronger hands than hedge funds.

“Would you rather have a shareholder base full of crypto enthusiasts or a bunch of hedge fund mercenaries who will short your stock the moment they get a whiff of bad news?” asked James Angel, a finance professor at Georgetown University. Some longtime crypto watchers are glad to see regular folks getting more access to IPOs, but there’s a feeling Gemini might be playing the game a bit.

On the same day it bumped retail’s share of the deal, it also jacked up the price range for the offering, raising it from $17–$19 to $24–$26 a share. That’s not a small move. And it’s hard to ignore the timing. Still, Craig Stephens from Access IPOs said small investors might be safer grabbing shares at the offering price than chasing them later when the hype kicks in and prices possibly go wild on the open market.

The post Gemini hands 30% of IPO shares to retailers as debut nears first appeared on Coinfea.