Robinhood’s blockchain network could generate as much as $160 million in annual fees by 2028, Bernstein analysts said in a Tuesday report shared with Cointelegraph. The forecast reflects rising demand for tokenized stocks, blockchain-based instruments that provide economic exposure to equities, which accounted for about 27% of the network’s trading volume. Native memecoin pairs, crypto tokens often linked to internet culture, represented 36% of activity, down from 100% when the network launched on July 1. Bernstein attributed the shift to automated market-making pools on Uniswap, a decentralized trading platform, that pair memecoins with stock tokens and create demand for both assets. DefiLlama data showed the network generated $2.13 million in fees over the past 24 hours, making it the leading blockchain network by daily fees little more than two months after launch. On July 20, Bernstein raised its price target for Robinhood shares to $160 from $130 and maintained an Outperform rating, citing expected growth in prediction markets and tokenized equities. Robinhood shares traded little changed in Tuesday’s premarket session, according to Yahoo Finance data. The network’s tokenized AMC exposure also drew criticism from Adam Aron, CEO of AMC Entertainment Holdings, who said the offering had no affiliation with AMC, called it "outrageous" and said the company would seek an investigation by its outside securities counsel.