Token Terminal ๐
@tokenterminal
Fundamentals for crypto. Available also on the Bloomberg Terminal App Portal at APPS TOKEN GO.
1.5K Following 162K Followers
131 million monthly active addresses are distributed across 40 L1s
BNB Chain (32.4%), Solana (24.8%), and Tron (14.4%) account for more than 70% of all active addresses, highlighting where the majority of onchain user activity takes place today
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The tokenized stock market is becoming increasingly competitive at the individual asset level.
SPCX is now tokenized by multiple issuers across multiple chains.
The Binance bStocks deployment on BNB Chain leads with $109.9M in market cap, ahead of every other SPCX deployment.
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Ondo Finance added the most market cap among tokenized ETF issuers over the past year (+$338.6M).
Binance bStocks (+$101.8M) and xStocks (+$85.9M) ranked second and third.
JUST IN: @RobinhoodCrypto Chain processes ~200M transactions in its first month.
At the same time, app TVL reaches ~$650M, stablecoin supply ~$520M, and monthly active users ~2.4M.
Powered by @arbitrum & @ethereum.
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JUST IN: USDG deposits to Aave v4 surpass $60M, up ~100% in the past month.
@global_dollar ๐ค @aave
Daily transactions on Robinhood Chain reach ~10m, while average block times fall to ~100ms.
Consumer-grade user experience. Onchain.
@arbitrum tech looking good here.
JUST IN: The market cap of tokenized stocks is at an all-time high of $2.2 billion.
Leading stock type: ETF
Leading asset: SECZ @Securitize
Leading issuer: @OndoFinance
Leading chain: @ethereum
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Uniswap's TVL on Robinhood Chain reaches ~$60M, growing ~100% over the past week.
At the same time, MAUs for @Uniswap on the chain are on track to surpass 1M, currently at ~880K.
Metrics to watch ๐
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SCALING: frxUSD deposits on Aave v4 are up ~50% over the past month.
@fraxfinance ๐ค @aave
Re tokenization efforts:
53.9k unique addresses now hold stock and ETF tokens on @RobinhoodCrypto Chain.
Just ~1.5 weeks after launch, Robinhood Chain already accounts for 9.7% of all stock token holders in the market.
$HOOD
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Difficult to imagine a better distribution strategy for @ethereum & @arbitrum than Robinhood building on top of them.
@RobinhoodApp brings 28M investors to the Ethereum eco.
In exchange, Robinhood positions itself close to the $200B in RWAs (+ETH) issued on Ethereum.
Win-win.
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JUST IN: ETH bridged from @ethereum (L1) to Robinhood Chain (L2) is up by ~10x in the past week, surpassing $100 million.
@RobinhoodCrypto Chain uses ETH as its native gas token.
If adoption continues, the chain could become a meaningful new source of demand for ethereum:native.
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Block times for Robinhood Chain (100ms) and Solana (400ms).
"Good speed on that."
JUST IN: @Uniswap TVL on @RobinhoodApp Chain surpasses $30 million.
A chart to watch ๐
JUST IN: The total stablecoin market cap on @RobinhoodApp Chain surpasses $270M, up over 100% in the past week.
@Paxos and @ethena looking good here.
Robinhood Chain is rapidly scaling activity without compromising performance.
Daily txs reach 7M while average block time falls to 100ms, demonstrating that Robinhood Chain continues to deliver a responsive UX as network activity accelerates.
@arbitrum tech looking good here.
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ETH bridged from @ethereum (L1) to Robinhood Chain (L2) is up by ~70x in the past week, surpassing $70M
@RobinhoodApp Chain uses ETH as its native gas token
If adoption continues, the chain could become a meaningful new source of demand for ethereum:native
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Top 10 asset issuers, ranked based on 30d % change in tokenized market cap:
1. @3janexyz
2. @NestCredit
3. @Anchorage
4. @jpmorgan
5. @tempo
6. @SoFi
7. @binance
8. @flyingtulip_
9. @KinesisMonetary
10. @RobinhoodApp
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Robinhood has $377B in assets on platform.
Three questions determine how much growth reaches Morpho:
1. What % of assets move onto Robinhood Chain?
2. What % of those assets are deposited into Earn?
3. What % of Earn deposits are borrowed?
Since Robinhood Earn is powered by @Morpho, the third number directly determines how much Robinhood Chain contributes to Morpho's active loans.
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J.P. Morgan has tokenized ~$800M in assets on @ethereum across 2 funds.
