HOOD stock continued rising as several important catalysts, including the ongoing Robinhood Chain growth and analysts forecasts aligned. Robinhood jumped to $110 in extended hours, up by over 70% from its lowest level this year.

Robinhood Chain growth is accelerating

Third-party data shows that Robinhood Chain, which was launched in July, is firing on all cylinders, even as other layer-1 and layer-2 chains struggles.

According to DeFi Llama, the total value locked (TVL) in the chain, has jumped to a record high of $783 million. This is a big number that makes it the eleventh-biggest chain in the crypto industry.

Robinhood Chain has already passed many of the most popular chains in the industry like Cardano, Avalanche, Sui, Stellar,…