ChainCatcher report: Bernstein analysts predict that Robinhood's blockchain network, Robinhood Chain, could generate up to $160 million in fee revenue annually by 2028. This forecast is based on growing demand for tokenized stock trading, which currently accounts for approximately 27% of the chain’s total transaction volume, down from 100% at its launch on July 1, when meme coin trading pairs dominated. According to DefiLlama data, more than two months after its launch, Robinhood Chain has become the leading blockchain network by daily fees, generating $2.13 million in fees over the past 24 hours. On July 20, Bernstein raised its target price for Robinhood (HOOD) stock from $130 to $160 and maintained its Outperform rating. However, Robinhood’s on-chain stocks have recently faced criticism from Adam Aron, CEO of AMC Entertainment Holdings. Aron stated that the platform’s tokenized stocks offering economic exposure to AMC shares are not affiliated with the company and called the move “outrageous,” adding that AMC will request its external securities legal counsel to investigate.
Bernstein forecasts $160 million in fee revenue for Robinhood Chain by 2028.
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Summary
On-chain news shows Bernstein analysts forecasting $160 million in annual fee revenue for Robinhood Chain by 2028. Tokenized stock trading now accounts for 27% of volume, while meme coin news highlights a decline to 36% for meme coin pairs. DefiLlama data shows the chain led in daily fees within two months, reaching $2.13 million in 24 hours. Bernstein raised Robinhood’s price target to $160. AMC CEO Adam Aron criticized the tokenized stock offerings as “outrageous.”
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