Robinhood was originally an internet securities broker. There seems to be no problem with Robinhood Chain becoming the king of kings in on-chain US stock token spot trading. However, when it comes to the cryptocurrency field, even dragons must coil and tigers must crouch. Solana firmly holds the top spot for on-chain US stock token spot trading, with no other chain able to challenge it:

In the past two weeks, Solana's on-chain US stock token spot trading volume was approximately $306 million and $275 million, respectively. This not only massively leads all other chains (to be specific, no other chain's weekly on-chain US stock token spot trading volume exceeded $10 million in the past two weeks), but also notably surpasses Binance, which has long ranked first in US stock token spot trading volume among CEXs. Over the same two weeks, Binance's US stock token spot trading volume was around $160 million and $183 million, respectively.

In other words, within the crypto market for trading tokenized US stocks, Solana's scale is unmatched. Meanwhile, Robinhood Chain's data for the past two weeks was approximately $2.32 million and $9.41 million, making it a true underdog compared to Solana.

However, considering that Robinhood Chain has only been officially online for a little over half a month, and its past two weeks' data ranked 3rd and 2nd among all chains respectively, it can no longer be considered weak. Instead, it shows the momentum of a fearless newcomer.

So, where does the tokenized US stock trading volume on Robinhood Chain come from? Meme coins.

That's right, meme coins are leading US stock trading on Robinhood Chain, and this could very well be the next big opportunity on Robinhood Chain.

On Robinhood Chain, Meme Coins Are Saving US Stocks

Since the launch of Robinhood Chain, the most actively traded tokenized US stock on the chain is $NVDA. The trading volume of the Uniswap NVDA/USDG v4 pool has successfully exceeded $10 million.

Before July 20, the daily trading volume of this pool never exceeded $500,000. Almost all volume came from the last two days, with cumulative volume exceeding $8.1 million.

This is all thanks to two meme coins: $REAL and $AI.

$REAL is a meme coin paired with $NVDA on Bankr. On July 20, Bankr launched a feature allowing users to issue new meme coins using tokenized US stocks as the liquidity pool, supporting over 90 tokenized US stocks like $NVDA, $TSLA, $AAPL, and $SPY.

Bankr's founder, @0xDeployer, personally issued the first token under this new feature, which is $REAL. Since the founder launched it himself and announced on X that he was recruiting a CTO team for this coin, its trading volume on the first day (July 20) exceeded $5.6 million.

$AI comes from another platform, long.xyz. This platform was actually launched much earlier than Bankr. $AI was issued on July 14, also a meme coin paired with $NVDA. Although launched early, it garnered little attention until Bankr ignited interest. On July 20, $AI's daily trading volume also reached $1 million.

The Uniswap NVDA/USDG v4 pool's trading volume on July 20 was $4.5 million. Considering the previous lackluster daily volume below $500,000, this surge was entirely due to the two aforementioned meme coins.

Uniswap founder Hayden Adams noticed this situation and traced its source to Bankr's $REAL, prompting him to tweet, "The new feature is damn cool."

Uniswap team member @saintniko also commented under a tweet about Robinhood Chain's US stock token trading volume hitting a new all-time high, saying, "Bankr and long.xyz contributed through the related trading pairs!"

Robinhood Is the Most Suitable Chain for This Gameplay

No other chain is more suitable for US stock memes than Robinhood.

First, it's a chain built by an internet securities broker itself, with the stock gene deeply ingrained in its DNA.

Second, Robinhood CEO Vlad has repeatedly stated that this chain aims to do well with RWA. While this was said, before the emergence of US stock meme coins, this vision was more idealistic than realistic.

Over the past two weeks, the DEX spot trading volume on Robinhood Chain was $1.845 billion and $1.826 billion, respectively. Among this, meme coin trading volume accounted for $1.347 billion and $856 million, with the remainder mostly contributed by swaps between ETH and stablecoins. The trading volume of tokenized assets was a mere $2.32 million and $9.41 million.

Speculation in meme coins eventually hits a fatigue phase, and RWA needs development. US stock memes cleverly combine the two, creating a new narrative that can keep the chain lively again.

Adding to this, Vlad's previous statements—a tweet on July 15 welcoming builders who want to embed tokenized US stocks and other RWA assets into on-chain applications to communicate with them, and a tweet on July 17 stating that one of Robinhood Chain's missions is to make RWA programmable—further support this.

This image, in particular, shows his vision for meme coins and RWA to flourish together on Robinhood Chain, asking, "Why can't both go hand in hand?"

Past RWA projects often felt distant to retail investors, or didn't generate much profit. US stock memes effectively solve this problem. Previously, with alt.fun, which was briefly popular on Hyperliquid, people would wonder if issuing meme coins on top of US stock futures positions would lead to losses.

If retail players instinctively think of this, the narrative is flawed from the start. Each chain's cultural DNA and current atmosphere determine whether similar gameplay will form different market perceptions and achieve success. On Robinhood Chain, the US stock + meme gameplay instinctively aligns with Vlad's vision. Additionally, using tokenized US spot stocks as a liquidity pool is far better than futures, as it is backed by actual shares. Therefore, if the narrative succeeds and US stock meme coins proliferate, it could, to some extent, allow meme coins to "deflate" stocks, since the tokenized US stocks are locked in the pool.

Similarly, imagine if, as the scale grows, Robinhood could directly guide retail investors to deposit their stocks into liquidity pools for yield, directly bridging the gap between meme coins and stocks.

Currently, the total supply of $NVDA on Robinhood is only about 14,000 tokens, while the Uniswap v4 pools for $REAL and $AI already contain close to 1,700 tokens. This is despite the fact that the US stock meme narrative has yet to produce a project with a market cap exceeding $10 million.

Project Tracking: The Competition Between Bankr and long.xyz

For now, only these two platforms need attention, as they are the main ones generating buzz and competing.

There are also very few specific projects to track. For Bankr, the focus is $REAL. As discussed earlier, the logic is that the founder personally launched and promoted it. However, the pace of promotion has been somewhat slow. Volume is high, but the price hasn't skyrocketed wildly.

As for long.xyz, the founder has explicitly stated there is no plan to issue a platform token:

Furthermore, the two projects the founder has personally bought into are the aforementioned $AI and his own creation $SPACEHOOD (paired with $SPCX).

long's support for these two projects is very clear. They have already conducted a $NVDA airdrop reward for long-term holders of these tokens:

$AI is currently the leading project in this niche, rising consistently over the past two days, reaching a peak market cap of $6.15 million:

If a US stock meme can break through and hold the $10 million market cap level, and continue rising, then US stock memes could very well become the new popular gameplay on Robinhood Chain. If we dream bigger, since this gameplay has never been successfully executed in the market before, it could become a unique killer feature for Robinhood—similar to how every chain has its own specialty. It might even lead the entire market in a new direction, becoming a significant new narrative opportunity. After all, the meme coin narrative hasn't seen a major update in a long time.