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

Odaily Odaily reports that Tom Wan, Head of Data at Entropy Advisors and former analyst at 21.co, posted on X platform, stating that the total market cap of stablecoins on Robinhood Chain has exceeded $200 million. He indicated that the 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 vault, bringing its total managed assets to nearly $100 million, accounting for approximately 50% of the total USDG supply on Robinhood Chain.