The launch of Robinhood Chain has positively impacted sentiment toward Ethereum after the layer-2 network gained significant traction within days of its launch. Built on ETH as a native gas token, the blockchain has already received approximately $141 million worth of bridged ETH. Over 500,000 Ethereum wallets are now active on the network, indicating strong early adoption amid the growing Ethereum ecosystem.
According to DeFiLlama data, Robinhood Chain has registered $877.56 million in decentralized exchange trading volume over the last 24 hours, outperforming the trading volume on the Ethereum mainnet and Coinbase-owned Base during the same time frame. The network offers the tokenized stock trading solution offered by Robinhood to customers in 120 countries, expanding EVM compatibility.
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Robinhood Chain Challenges Long-Standing Layer-2 Criticism
The network activity has once again raised discussion about whether Ethereum layer-2 solutions are helpful or harmful to the ecosystem. Long-standing criticism has been that the networks decrease the level of activity on the Ethereum mainnet while bringing in limited transaction fee revenue.
But several market participants now feel that the launch of Ethereum-based layer-2s by large consumer-focused platforms might end up fueling Ethereum adoption in the long term and helping build strong network effects for the ecosystem.
A crypto influencer known as Ansem said that Robinhood Chain and other Ethereum layer-2 launches are one of the best bullish moves for Ether in years. Mike Dudas, founder of 6th Man Ventures, also called Robinhood Chain the best bullish move for Ethereum that he had seen in years. At the same time, Ethereum has maintained its leadership in the tokenized real-world asset segment with 47% market share.
Ethereum Growth Continues as Wallet Security Risks Persist
Moreover, some additional market analysis has helped support Ethereum’s valuation prospects. As per Leon Waidmann, head of research at Lisk, the total value locked in Ethereum has grown to $260 billion, surpassing the $210 billion market capitalization of the ETH token. He believes the valuation gap indicates that ETH is undervalued compared to network activity and that the current relationship between TVL and market capitalization is even lower than seen during the bear market in 2022.
While Ethereum sentiment is improving amid its positive performance, security concerns persist for Ethereum users. According to the security platform Scam Sniffer’s post, a crypto holder lost almost $1 million as a result of a phishing attack that allowed the attackers to gain access to the user’s wallet. After an initial failed attack, the scammers calculated the balance of the victim and were able to transfer exactly 999,999 USDT.
The incident highlights persistent phishing threats, with CertiK reporting $723 million in phishing-related losses across 248 incidents during 2025, emphasizing the need for users to carefully verify wallet approval requests before signing transactions.
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