HOOD Stock Analysis Amid Robinhood Chain and Rothera Growth

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On-chain analysis shows HOOD stock gaining momentum as Robinhood Chain and Rothera deliver strong metrics. Robinhood Chain, launched in July, has hit $900 million in TVL and $1.02 billion in stablecoin market cap, outpacing Cardano and Near Protocol. DEX volume hit $28 billion in 30 days, ranking it fourth. Rothera’s expansion into prediction markets and a Kalshi partnership, plus a deal with Crypto.com, adds fuel. On-chain data reveals HOOD stock has climbed from $63.50 in March to $125, forming a bullish megaphone pattern.

Key Insights

  • HOOD stock may surge soon as top Robinhood Chain metrics surge.
  • It is starting to route some of its prediction data through Rothera.
  • It has formed a broadening wedge pattern, pointing to more gains.

HOOD stock pulled back toward $117 after recently trading above $125 as investors assessed Robinhood’s blockchain and prediction-market expansion.

Robinhood Chain now holds about $900 million in decentralized finance assets. Prediction-market activity has also expanded through Rothera, Kalshi, ForecastEX and OG.com.

Those businesses provide new revenue channels, although their rapid growth does not guarantee a rebound in Robinhood stock.

HOOD Stock Tracks Robinhood Chain G

One of the most important catalysts that may boost the HOOD stock price is Robinhood Chain, the layer-2 network it launched in July. This is an important chain built on Arbitrum’s stack that makes it possible for developers to build applications across all industries like stablecoins, real-world assets (RWA), and decentralized finance.

Robinhood decided to launch this product after adding tokenized stocks on its platform. These tokenized stocks have enabled it to offer the service in Europe and other countries.

There are signs that Robinhood Chain has become one of the most successful launches in the crypto industry this year. Data compiled by DeFi Llama shows that the total value locked (TVL) in the decentralized finance industry has jumped to $900 million. The top players in the network are dApps like Morpho Blue, Steakhouse Financial, and Uniswap.

Robinhood Chain has also accumulated substantial stablecoin assets. Its stablecoin market capitalization has jumped from zero in July to the current $1.02 billion. This is important because it has now become one of the biggest chains in the stablecoin industry. It has already overtaken popular chains like Cardano, Near Protocol, Algorand, and Berachain.

DEX protocols on Robinhood Chain have continued to process substantial assets this year. Its DEX volume in the last 30 days stood at over $28 billion, making it the fourth-biggest chain after Solana, Ethereum, and BNB Chain. Notably, it has now surpassed the Base Chain, which handled $25 billion in this period.

All these metrics have brought substantial fees to the network. It has made $27 million this month, a big jump from $6.5 million last month. In total, it has already made over $37 million in fees. 10% of these fees normally go to the Arbitrum Foundation.

Robinhood is Becoming a Top Name in the Predictions Market

Meanwhile, Robinhood is becoming a big name in the prediction market, one of the fastest-growing areas in finance today. Robinhood got into the industry by partnering with Kalsh, a company whose valuation is nearing $40 billion today.

Recently, however, the company has been mostly focusing on Rothera, a platform it is building with Susquehanna. The benefit of this approach is that it will keep most of the profits rather than sharing them with Kalshi.

Robinhood inked a major partnership with Crypto.com. As part of the deal, Robinhood will begin routing some event contracts through its exchange and clearinghouse at the start of the Pro Football season. Robinhood also took a stake in Crypto.com as part of this deal, valuing the exchange at $20 billion.

HOOD Stock Price Technical Analysis

The daily timeframe chart shows that the HOOD stock price has rebounded in the past few months. It soared from a low of $63.50 in March to a high of $125 this week.

Robinhood stock chart | Source: TradingView
Robinhood stock chart | Source: TradingView

The stock recently jumped above the key resistance level of $111.9, its highest level in August. It has remained above the 50-day Exponential Moving Average (EMA).

At the same time, it has formed a megaphone pattern, a common bullish continuation signal. Therefore, the stock will likely retest the key support level of $111.91 before rebounding towards the resistance level of $130.

This article is for informational purposes only and should not be considered financial or investment advice. Equity and cryptocurrency markets remain volatile. Readers should conduct independent research before making investment decisions.

The post HOOD Stock Analysis Amid Rothera and Robinhood Chain Success appeared first on The Market Periodical.

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