Data: Total market cap of stablecoins on Robinhood Chain surpasses $200 million

Odaily reported that Tom Wan, Head of Data at Entropy Advisors and former analyst at 21.co, stated on platform X that the total market cap of stablecoins on the Robinhood Chain has surpassed $200 million. He noted that a key factor driving this growth is Ethena. Data shows that Ethena currently holds $50 million USDG on Robinhood Chain, along with another $50 million USDG in the Ethena × Steakhouse USDG treasury, totaling nearly $100 million in assets under management, which accounts for approximately 50% of the total USDG supply on the Robinhood Chain.