UNI Rose 39%, ARB Doubled in a Week as Robinhood Network Shattered Trading Volume Records
Altcoins showed strong growth overall last month, with the TOTAL2ES index rising nearly 32%. Last week, major altcoins like Zcash and Dash saw double-digit gains. Among the top 100 cryptocurrencies by market cap, UNI from Uniswap rose 39.1%, and ARB from Arbitrum more than doubled, up 107.4%. ARB reached its highest price since early January, while UNI traded at levels not seen since last November.
A key driver is the Robinhood Chain network, launched about two months ago, which has become the largest crypto network by fee generation. Uniswap and Arbitrum are the protocols closest to this activity. The network's cumulative DEX trading volume exceeded $40 billion, with daily revenue now over $4 million, surpassing Hyperliquid, Ethereum, BNB Chain, and Base.
Uniswap is the primary exchange on Robinhood Chain, capturing almost all trading volume. It also earns a higher fee percentage there (0.465%) compared to elsewhere (0.214%), partly due to tokenized stocks trading in its highest fee tiers. Furthermore, a recent protocol upgrade now directs a portion of these fees to buy back and burn UNI tokens, creating a deflationary mechanism tied directly to Robinhood Chain activity.
For ARB, the connection is different. Robinhood Chain is built on Arbitrum technology, and through the Arbitrum Expansion Program, 10% of the chain's net protocol profit is directed back—8% to the Arbitrum DAO treasury and 2% to a developer guild. However, this amount ($1.32 million by early September) is negligible compared to Uniswap's fee generation on the same platform.
The situation highlights a new concentration risk for Uniswap. While previously distributed across many blockchains, a significant portion of its fee revenue now depends on a single network controlled by Robinhood, a public broker accountable to the SEC and its shareholders. Any change in Robinhood's routing, fee structure, or regulatory issues could impact the token burn rate supporting UNI's price.
For now, the growth narrative is clear: record transaction volume on Robinhood Chain is driving increased token burns and corresponding price revisions for both UNI and ARB.
cryptonews.ru13 min fa