Trading platform Robinhood’s blockchain network is expected to generate as much as $160 million in annual fees by 2028, Bernstein analysts forecast in a Tuesday report shared with Cointelegraph.
The analysts cited growing demand for tokenized stock trading on the network, which grew to account for about 27% of the chain’s total trading volume, while native memecoin pairs trading decreased to 36% of network activity, down from 100% at launch on July 1.
Bernstein said the growing demand for tokenized stocks on the Robinhood chain is driven by automated market-making pools on Uniswap that pair memecoins with stock tokens and create “reflexive demand” for both sides.
In a little more than two months since launch, the Robinhood chain has emerged as the leading blockchain network by daily fees, generating $2.13 million in the past 24 hours, according to DefiLlama.
On July 20, Bernstein raised its price target on Robinhood (HOOD)…
