Robinhood Chain, an Arbitrum-based Ethereum Layer 2 launched on July 1, 2026, has quickly attracted memecoin, tokenized-equity and decentralized-exchange activity while remaining largely used by crypto-native traders. Citizens analyst Devin Ryan raised his Robinhood Markets (HOOD) price target to $165 from $155 and projected approximately $365 million in Robinhood Chain net revenue in 2027, or about $1 million per day. Early activity included approximately $34.6 billion in cumulative DEX volume by early September according to research cited in the older report, while newer analyst figures put annualized DEX volume at $200 billion. Daily fees sometimes exceeded $4 million and occasionally surpassed Solana’s revenue. Reported total value locked also varies by measurement, with the newer estimate exceeding $400 million by early September and the earlier research citing approximately $708 million in August, up 100% month over month; stablecoin supply reached approximately $770 million, up 47%. Memecoins, including CASHCAT, and tokenized NVDA and AAPL shares drove substantial activity, while Uniswap accounted for 77% to more than 90% of DEX volume on peak days. Ryan’s forecast assumes Robinhood reaches an 85% revenue-sharing tier with Arbitrum, under which approximately 90% of sequencer revenue remains with Robinhood after Arbitrum’s share. More cautious forecasts place near-term revenue in the tens of millions, with broader growth potentially coming from prediction markets, perpetual futures and tokenized equities usable as DeFi collateral.