Stablecoin

Robinhood

Morpho

Ethena

Robinhood Chain’s stablecoin supply briefly surpassed $300 million, less than two weeks after the Ethereum Layer 2 opened its public mainnet.Paxos-issued USDG led the expansion with $205.3 million, while Ethena’s USDe accounted for another $95 million. The two assets represent virtually all tracked stablecoin liquidity on the network.The total has since eased to about <a href="https://defillama.com/stablecoins/robinhood-chain" rel="noopener noreferrer nofollow">$294.2 million</a>, with USDG at $194.5 million and USDe at $99.6 million. USDG controls about 66% of the market after its supply fell nearly 5% over the latest 24-hour period, while USDe increased about 5%.<figure id="attachment_466411" class="wp-caption aligncenter"><img class="size-full wp-image-466411" src="https://cryptoadventure.com/wp-content/uploads/2026/07/Screenshot-2026-07-13-at-12.12.34.png" alt="robinhood stablecoin distribution" width="1640" height="682"><figcaption id="caption-attachment-466411" class="wp-caption-text"> Source: DeFiLlama </figcaption></figure><a href="https://cryptoadventure.com/robinhood-chain-explained-stock-tokens-rwas-layer-2/" rel="noopener noreferrer nofollow">Robinhood Chain</a> launched on July 1 as an Arbitrum-based Layer 2 designed for financial services and tokenized real-world assets. The network supports trading, lending and yield products alongside Robinhood’s stock-token infrastructure.<h2 id="morpho-absorbs-usdg-liquidity">Morpho Absorbs USDG Liquidity</h2>A large share of the stablecoin supply has entered Robinhood Chain’s lending markets.Morpho Blue held about $88.4 million in total value locked after a rapid increase in USDG deposits. The lending protocol accounts for most of the network’s $137.6 million in DeFi liquidity.The expansion began when Ethena seeded $50 million into a Steakhouse Financial vault built around USDG. That deposit helped drive the earlier <a href="https://cryptoadventure.com/ethena-drives-robinhood-chain-tvl-spike-as-morpho-absorbs-usdg-flows/" rel="noopener noreferrer nofollow">Robinhood Chain TVL spike</a> as Morpho became the main lending layer for the network’s stablecoin market.USDe differs from USDG in structure. USDG is a fiat-backed stablecoin issued by Paxos, while USDe maintains its dollar exposure through crypto collateral and offsetting derivatives positions.<h2 id="dex-volume-approaches-900-million">DEX Volume Approaches $900 Million</h2>Stablecoin growth has arrived alongside heavy decentralized exchange activity.Robinhood Chain processed about $894 million in DEX volume over the latest 24-hour period, with Uniswap responsible for roughly $892 million. Seven-day turnover reached $3.1 billion after rising more than 10,500% from the previous week.The network previously <a href="https://cryptoadventure.com/robinhood-chain-dex-volume-holds-above-824m-as-meme-coin-trading-surges/" rel="noopener noreferrer nofollow">held above $824 million in daily DEX volume</a> as CASHCAT, HOODIE and other newly issued meme coins drove its first major trading cycle.Uniswap held $43.3 million in Robinhood Chain liquidity while processing more than 20 times that amount in daily trades. Applications generated $4.24 million in fees over the same period, compared with $116,284 in fees collected at the chain level.The post <a href="https://cryptoadventure.com/robinhood-chain-stablecoin-supply-briefly-tops-300m-as-usdg-leads/" rel="noopener noreferrer nofollow">Robinhood Chain Stablecoin Supply Briefly Tops $300M As USDG Leads</a> appeared first on <a href="https://cryptoadventure.com" rel="noopener noreferrer nofollow">Crypto Adventure</a>.

Robinhood Chain Stablecoin Supply Briefly Tops $300M As USDG Leads

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