Robinhood Chain NFT Volume Surges Past Ethereum, But Analysts Warn of FOMO

BitcoinWorld Robinhood Chain NFT Volume Surges Past Ethereum, But Analysts Warn of FOMO Robinhood Chain, the blockchain network launched by the popular trading platform, saw its daily NFT trading volume more than double that of Ethereum on Aug.

12, according to data from Dune Analytics cited by The Data Nerd. The chain recorded $3.13 million in NFT volume, roughly 2.3 times Ethereum’s $1.35 million on the same day.

Understanding the Volume Spike The surge marks a notable milestone for Robinhood Chain, which officially launched its mainnet on July 1.

However, analysts at The Data Nerd cautioned that a substantial share of the inflows was likely driven by short-term FOMO (fear of missing out) as traders flocked to the new chain. Such volume spikes are rarely sustained, they noted, especially in the highly volatile NFT market.