Robinhood Chain Meme Operation Exceeds $9 Million in 30-Day Turnover
The activity involved hundreds of meme tokens, newly created accounts, layered fund collection and recycled capital.
An operation involving hundreds of meme tokens on Robinhood Chain generated more than $9 million in turnover over 30 days, while using newly created accounts, layered fund collection and recycled capital.
The activity involved newly created accounts moving tokens and recycling funds through multiple collection layers. The pattern resembles a previously disclosed Robinhood Chain operation linked by on-chain analyst Wazz to at least 53 token launches, although no evidence connects the two operations to the same group.
By the close of August, the number of tokens issued on Robinhood Chain had surpassed 340,000. August application-layer fees totaled $114 million, and trading volume for meme tokens paired with Robinhood Stock Tokens totaled $518 million.
The network had yet to attract broad participation from Robinhood’s 27 million funded accounts.
