Robinhood Chain Tops $100B in Trading Volume as HOOD Stock Slides Ahead of Oct 27 Earnings

Robinhood Chain surpassed $100 billion in cumulative decentralized exchange trading volume just three and a half months after launching its mainnet, cementing a rapid rise in the blockchain landscape. The network posted $38.62 billion in volume over the past 30 days, surpassing Base's $30.46 billion and Arbitrum One's $5.65 billion, with Uniswap accounting for the dominant share of activity on the chain.

Despite that milestone, Robinhood Markets stock is under pressure, down roughly 11% year to date heading into its October 27 third-quarter earnings report. Analysts are forecasting Q3 revenue of $1.4 billion and earnings per share of $0.64. Wells Fargo trimmed its price target to $120 from $125, maintaining an Equal Weight rating, while Truist moved in the opposite direction, raising its target to $134 from $130 with a Buy rating. The average analyst target tracked by Koyfin sits at $134.56 across 31 analysts.

On the regulatory front, the SEC approved Cboe Global Markets as the first securities exchange permitted to list options contracts tied to publicly traded companies' key performance indicators, with Robinhood set to become the first retail broker to offer the new KPI contracts. The development extends Robinhood's expansion beyond core brokerage into prediction markets and institutional crypto.

Robinhood also added XDC, the native token of the XDC Network, to its crypto platform for eligible U.S. customers. XDC Network focuses on trade finance, offering ISO 20022 compatibility and faster settlement to address what it describes as a $2.5 trillion global trade funding gap. A Form 4 filing also disclosed a transaction by Robinhood Ventures Fund I as a 10% owner, dated October 9.