Robinhood Chain Metrics Surge Ahead of HOOD Earnings
Robinhood (NASDAQ:HOOD) stock has pulled back in recent days, falling from this month’s high of $120 to around $94. Whether this retreat proves temporary or extends further will likely depend on the company’s quarterly earnings report, which is scheduled for release on Wednesday.
Robinhood Chain is Gaining Momentum
HOOD has pulled back in the past few days, even as third-party data shows that the recently launched Robinhood Chain gains momentum. DeFi Llama shows that the network’s total value locked jumped to a record high of $333 million. Uniswap, Morpho Blue, and Arcus have driven this growth.
Robinhood Chain’s growth has been an exception as other chains have been slowing down in the past few months. For example, the TVL in the crypto industry has dropped to $75 billion from last year’s high of $165 billion. Most chains, including Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL) have had their TVL metrics drop.
More data shows that Robinhood Chain is growing. Its stablecoin supply jumped to $482 million, while its Real-World Asset (RWA) tokenization has soared to $75 million.
DEX protocols in the network have handled over $11 billion this month. This growth makes it one of the top chains in the DEX industry, and is now handling more assets than traditional chains like Cardano (CRYPTO: ADA), Algorand, and Near Protocol. Robinhood Chain has made over $3.15 million in fees this month.
Options Market Predicts Volatility After Earnings
Robinhood Chain’s continued growth comes as the company prepares to report its second-quarter earnings. The results will provide greater insight into its business performance and the progress of key initiatives, including its prediction markets and cryptocurrency trading operations.
Benzinga data shows that analysts predict that its revenue jumped by 29% in the second quarter to $1.28 billion. Its earnings per share are expected to rise slightly from 42 cents in Q2’25 to 43 cents in Q2’26.
The options market predicts that the HOOD stock will be highly volatile when it publishes its earnings report. Data shows that the stock will have an implied move of about 6.8% after earnings. The put-to-call ratio remains close to neutral, indicating that there is no strong directional bet.
Benzinga data shows that the consensus HOOD stock target among analysts is $122, up by about 30% from the current level. In a recent note, KeyCorp’s Alex Markgraff hiked the target from $100 to $125. Needham’s John Todaro boosted the target from $97 to $123, while Bernstein’s Gautam Chhugani hiked the target to $160.
HOOD Stock Has Retested Key Support Level
Technicals suggest that the HOOD stock has retested the important support level of $92.78, its highest point in April this year. This means that it has conducted a break-and-retest pattern, a common continuation sign. It also retested the 200-day Exponential Moving Average (EMA).
Therefore, the stock will likely bounce back, potentially to the July high of $119.20. A drop below the key support level of $90 will invalidate the bullish outlook.
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