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one thing about Robinhood Chain’s latest numbers caught my attention.
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The chain isn’t just accumulating tokenized RWAs. They’re already turning over at a pretty serious rate.
On Aug. 30, @RobinhoodCrypto Chain had around $51.8M in tokenized RWA value.
That same day, those assets generated $165.5M in volume.
About $40.8M of the tokenized value was stocks, meaning RWA turnover was already more than 3x the entire RWA base in a single day.
Meanwhile, the chain recorded a record $874.8M across DEXs and 5.5M transactions.
@ponsdotfamily alone did $67.4M across 135K trades, so speculation clearly contributed plenty of activity.
But the RWA turnover is what changes how I read that record.
A relatively small RWA base is already being recycled pretty aggressively rather than just sitting there as passive inventory.
Now if that $52M supply keeps growing while turnover stays anywhere near this level, how much of Robinhood Chain’s future volume actually needs memecoins?
atp, bro must have unlimited money
his company @metawin just gaveaway $250k yesterday and now @skel is casually handing out $100k to one person
drop him a follow & comment your https://t.co/exZYBUPge9 username on his post to qualify
you never know, winner could be you
😳 105M+ $NEARFUN bought by the team and then burned.
Thats over 110M+ gone in total.
Not locked. Not vested. Gone.
This is definitely gonna worth it. 👀
https://t.co/VITHK4hAoS
✧ EKIDEN IS ONE OF THE MORE INTERESTING THINGS HAPPENING ON CANTON
@CantonNetwork is building around institutional assets, settlement and private financial activity.
@ekidenfi is taking that infrastructure and putting a derivatives market on top of it.
Mainnet is live and still invite-only.
Current numbers:
$5M+ volume
$330K+ TVL
$190K+ open interest
$BTC, $ETH, $HYPE and $CC perps
Up to 20x leverage
What caught my attention is how Ekiden is built.
It uses a CLOB rather than an AMM, with REST and WebSocket access for traders and market makers.
That is much closer to how serious trading infrastructure is normally operated.
The privacy side is even more interesting.
Canton uses a need-to-know model instead of broadcasting transaction data across the whole network.
For a derivatives trader that makes a real difference. Your positions, collateral and trading activity aren't sitting in public view for everyone to track.
Ekiden is the first venue where you get that privacy together with onchain settlement and self-custody.
That is a much bigger proposition than simply launching another BTC perp market.
The numbers are too early to call this adoption.
What I want to see now is whether volume and open interest keep building as more traders get access. With only a few dozen accounts trading today, every new desk is visible in the data, and that includes yours.
If they do, Ekiden has something much more interesting than an early perp exchange.
It could become the trading layer that Canton has been missing.
If you want to test it, my referral gives you a 20% multiplier on mainnet:
https://t.co/FRqvxkQNVt
More at https://t.co/1Xu7SXEvJN.
TOKENIZED DEPOSITS: BANK MONEY IS GOING ONCHAIN
A tokenized deposit is a commercial-bank deposit represented as a digital token.
The money remains a bank liability. What changes is how it can move, settle and interact with digital infrastructure.
A company with $10M in a bank could represent that deposit 1:1 as tokens and use it for payments, FX, collateral or asset settlement.
Unlike a stablecoin, it represents a deposit claim on a commercial bank.
WHAT’S ALREADY HAPPENING
✧ JPMorgan — JPMD @JPMorgan
JPMD brings JPMorgan deposit money onchain for institutional settlement.
✧ HSBC — Tokenised Deposit Service @HSBC_UK
Eligible businesses can convert deposits 1:1 into tokens and move them 24/7 across HSBC’s participating network.
✧ Partior @Partior
Connects tokenized commercial-bank money across institutions, supporting USD, EUR and SGD settlement.
✧ GBTD — Great British Tokenised Deposit
A shared UK banking initiative developed by Quant and convened by UK Finance, involving Barclays, HSBC UK, Lloyds Banking Group, Monzo, Nationwide, NatWest and Santander.
It has already completed live customer transactions using tokenized sterling deposits, including remortgages where funds were locked and automatically released at completion.
These are different pieces of the same shift: commercial-bank money moving into digital settlement infrastructure.
WHY CT SHOULD CARE
Tokenized assets need money to settle.
Understanding tokenized deposits helps you identify:
✧ Which banks are actually putting deposits onchain
✧ Which infrastructure connects them
✧ Where institutional settlement liquidity can develop
✧ Which tokenization projects have real banking infrastructure behind them
When a new project appears, check:
Who issues it → which bank holds the liability → where can it move → who can use it → what is actually live.
Bank deposit → tokenized deposit → settlement → interbank connectivity → digital assets.
That is the infrastructure layer worth understanding as finance moves onchain.
This is my opinion based on the data I’ve reviewed, not financial advice.
The HYPE unlock is getting a lot of attention today, but I actually like what is happening on the other side.
1.44M HYPE worth ~$135M was bought by Hyperliquid Strategies last week.
Then from October 3, revenue from the Circle deal is expected to start funding HYPE buybacks.
So yes, there is new supply coming.
But there is also real demand working against it.
That supply vs. buyback dynamic is exactly why I am still happily holding my HYPE thesis.
NFA.
another week multiple chances again
turn $1 into $12k on @metawin & get auto-entered into a $250k giveaway right now
thing is, this only lasts until tomorrow then 25 players get picked to split the $250k
make a deposit & wager today if you wanna get a piece as well
who knows, you might hit a 12000x like this guy