Robinhood Expands into Prediction Markets, Blockchain Fees Reach 25 Million

Applications on Robinhood Chain generated 25 million dollars in fees for the week ending July 24, ranking third behind Ethereum at 45 million dollars and Solana at 39 million dollars, according to CryptoRank. Robinhood is expanding its focus into prediction markets while maintaining its presence in three crypto sectors. The network, which launched four weeks ago, features meme coins and tokenized assets trading together. Cash Cat (CASHCAT) is the top traded token on the network, with a lifetime volume of 824.89 million dollars across 1.37 million trades. Daily trading of tokenized real-world assets (RWA) peaked at 61.1 million dollars on July 23, with meme coin and tokenized stock pairs contributing 46.1 million dollars, approximately 75% of the total. The total RWA value on the chain reached 25.4 million dollars on July 24, the highest since launch, with tokenized stocks accounting for 21.9 million dollars. Robinhood is also in discussions with Crypto.com to allow users to trade yes-or-no contracts on its platform. The company has previously partnered with Kalshi, ForecastEx, and Rothera, and continues to explore collaborations with various exchanges, although no agreement with Crypto.com has been finalized.

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