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Robinhood Chain / $VIRTUAL , where the activity actually went Ethereum’s L2s are emptying out. Robinhood Chain launched a month ago and already holds $325M. The breakdown 👇 🔴 Robinhood Chain TVL: $325M in under a month from mainnet 🔴 Agent volume: $200M+, powered by Virtuals 🔴 Agents launched: 5,600+ 🔴 Builder capital: $2.7M raised 🔴 Ethereum L2 TVL: lowest level since 2023 Launchpad volume on the chain briefly passed PumpSwap. Capital didn’t leave onchain activity, it left the chains that assumed it would stay. Distribution beat decentralization this cycle. A broker with 25M funded accounts shipped a chain and filled it in weeks. Is this the new L2 playbook, or a subsidized head start? Long $VIRTUAL. NFA. DYOR.