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Trading in memecoins on Robinhood Chain is surging, with volumes tied to Robinhood stock tokens reaching about $440 million as of Oct. 2, Bloomberg reported. By directly linking memecoins and tokenized stocks in liquidity pools, the stock tokens are being used as trading infrastructure for memecoin speculation, according to Bloomberg.
On Sept. 2, memecoin-stock token trading volume hit $217 million, exceeding the same day’s direct stock token trading volume of $127 million.