Robinhood’s foray into blockchain appears to be paying off, as its Ethereum Layer 2 network, Robinhood Chain, generated about $3.6 million in revenue during July, according to figures compiled by Blockworks Research. This performance places Robinhood Chain as the leading Layer 2 network last month by revenue.
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AAPLRevenue results place Robinhood ahead of rivals
The results show Robinhood Chain surpassed established networks in the same period. Polygon PoS ranked second, reporting $2.7 million in revenue. Base, a network backed by Coinbase, followed with approximately $2.1 million.
Lower on the list, Arbitrum One collected roughly $533,000 in revenue in July. Starknet saw close to $137,000, while Celo posted around $119,000. OP Mainnet registered just under $39,000 for the month.
Blockworks Research reported that Robinhood Chain’s July revenue exceeded the combined totals of both Base and Arbitrum. This trend signals a strong start for Robinhood Chain, which is still in its earliest stages of development.
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Robinhood Chain’s first full month saw it generate the highest revenue among Ethereum Layer 2 networks, outpacing both Polygon PoS and Base, and even surpassing the combined totals of Base and Arbitrum.
Global expansion and new asset listings
Robinhood also continued to expand its crypto offerings internationally in July by adding 50 new crypto assets for customers in the UK. This move is seen as part of the company’s broader strategy to grow its presence outside the United States and diversify the range of digital tokens available to its users.
The additional listings could support further transaction volume and revenue on Robinhood Chain as user adoption accelerates in new markets.
Analyst forecasts bold growth
Jon Ma, CEO of Artemis, shared an outlook that projects significant long-term growth for Robinhood. He estimates the company could reach a $300 billion market capitalization by 2030, based on growth in crypto activity, user expansion, and entry into new geographic markets.
According to Ma, his model assumes Robinhood could attract 100 million funded accounts, each generating roughly $200 in yearly average revenue. If realized, that would translate to nearly $20 billion in annual revenue and potentially $10 billion net income.
Ma also sees a potential TradingView acquisition as a possible growth driver. He suggested this integration could strengthen Robinhood’s position as a leading global trading platform.
A possible acquisition of TradingView could further position Robinhood as a top global platform, according to projections based on expanded user signups and growing crypto operations.
Stock holds steady after July volatility
Robinhood shares traded near $93.60 after rebounding from late July lows around $84. The price has since moved into a narrower range, reflecting an easing of selling pressure over recent weeks.
Technical indicators remained largely neutral. The relative strength index showed balanced momentum, while trend analysis did not indicate strong directional moves at this time.
Despite remaining below recent highs above $100, Robinhood’s gains in the crypto sector and overseas markets have kept investor attention. Ongoing product expansion and revenue performance in blockchain services are expected to remain key topics for stakeholders and market observers.
