Even Ethereum's critics believe Robinhood Chain is bullish for ETH. Nigel Farage and Donald Trump become embroiled in crypto related scandals, and more.
The successful launch of the layer-2 network& Robinhood Chain& has boosted investor sentiment around Ethereum. The newly launched blockchain uses ETH as its native gas token and around $141 million in ETH has already been bridged to the chain.
More than half a million wallets holding ETH are now on the network, which surged past the Ethereum L1 and rival L2 Base over the past 24 hours, with DEX volumes of $877.56 million. The L2 is an offshoot of TradFi trading platform Robinhood, which offers tokenized stocks to customers in 120 countries, further strengthening the EVM-compatible ecosystem.
L2s have been seen by many pundits as bearish for Ethereum as they take activity away from the L1 without returning much in the way of transaction fees. However even some former ETH bears are now reassessing that thesis. Influencer Ansem wrote:
Mike Dudas from 6th Man Ventures added that "robinhood chain is the single most bullish thing i've seen in eth-land in years."
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