Robinhood Chain has overtaken Coinbase's Base in daily active users less than three weeks after its launch, hitting 245,000 users and $9 billion in decentralized exchange volume. The new network, built by the trading app Robinhood, is already challenging established players in the layer-2 space.
A Fast Start for Robinhood Chain
Robinhood Chain went live just weeks ago. By the end of its third week, it had recorded 245,000 daily active users. That's a rapid climb for any blockchain, let alone one that's brand new. The network also processed $9 billion in DEX volume during that short window, signaling strong early demand from traders.
The numbers come from on-chain data. Robinhood hasn't released official user metrics, but the publicly available blockchain data shows the activity. The chain is designed to offer low fees and fast transactions, similar to other layer-2 solutions.
Outpacing a Rival
Coinbase's Base launched in August 2023 and quickly became one of the most popular layer-2 networks. But Robinhood Chain has now surpassed it in daily active users, a key metric for network health. Base still leads in total value locked and overall transaction volume, but Robinhood's early growth rate is notable.
The $9 billion in DEX volume on Robinhood Chain also puts it ahead of Base's early performance. Base took several months to reach similar trading volumes. Robinhood Chain achieved it in weeks.
Robinhood Chain's early success raises questions about how it will compete long-term. The network benefits from Robinhood's existing user base of millions of traders. But it also faces the same challenges as other layer-2s: attracting developers, maintaining low fees, and avoiding congestion.
For now, the numbers speak for themselves. 245,000 daily active users and $9 billion in DEX volume in under three weeks is a strong start. The coming weeks will show whether Robinhood Chain can sustain this momentum or if the early surge will level off.
