Robinhood surpasses Solana in daily DEX volume

Robinhood has surpassed Solana in daily decentralized exchange (DEX) volume for the first time. According to DeFiLlama data, Robinhood processed $1.45 billion in DEX volume on September 5, compared to Solana’s $1.25 billion.

While Solana maintains a significant lead in 30-day cumulative DEX volume with over $65 billion, the recent daily flip highlights growing competition. Robinhood Chain has also crossed $3 billion in daily DEX volume for the first time, with nearly $880 million currently locked on the chain—a 30% increase in one week.

Robinhood’s growth is also impacting revenue, with the platform recently reporting $6.8 million in earnings, a record high for any Ethereum Layer 2. Analysts suggest this surge in activity could potentially influence the market dynamics between Ethereum and Solana.