Robinhood Chain Memecoin Volume Tops Direct Stock-Token Trading
Sept. 2 data show memecoin pairs using Robinhood tokenized stocks outpaced direct trading by 1.7 times, with one token cornering 53 percent of the HIMS float.
Memecoin pairs built on Robinhood Chain stock tokens produced $217 million in volume on Sept. 2, compared with $127 million in direct tokenized-stock markets the same day.
One memecoin, BONER, held 31,198 of the 58,714 HIMS stock tokens then outstanding, equal to roughly 53 percent of the tokenized supply.
While the New York Stock Exchange remained closed, the tokenized HIMS instrument reached $132.64, a 4.6 times premium to the prior Friday close of $28.84 for the underlying shares.
Scale and limits
After the underlying market reopened, authorized participant BBVI minted approximately 4,000 new HIMS tokens, worth about $115,000 at the prior close.
The entire tokenized HIMS float represented 0.025 percent of Hims & Hers 233.3 million shares outstanding.
Data were compiled by a single on-chain researcher; exact methodology and coverage are not stated, and Robinhood has not confirmed token supply mechanics or monitoring.