robinwifhood price

Recently, when I opened Twitter, the screen was full of U.S. stock tokenization. It's no exaggeration to say that if you've not been discussing this for the past few days, it probably means that you have lost touch with the market. "U.S. stocks on the chain" is the biggest hot spot in the market this week. Robinhood launched a stock tokenization service in Europe, while xStocks also launched on Kraken and Bybit. Solana DEX and the Arbitrum ecosystem began to list AAPLx, TSLAx and other trading pairs, and a new set of narratives such as stock tokenization was quickly rolled out. But if you only see the heat and don't understand the structure, then you may become a leek in this narrative. In my opinion, stock tokenization is not essentially a "token", but a stress test of on-chain finance: Can the Web3 world really host the issuance, trading, pricing, and redemption of mainstream financial assets? It's not a heat, it's a structural stress test of on-chain finance From my perspective, our industry narrative is constantly evolving in cycles. As early as 2019, both Binance and FTX tried to tokenize U.S. stocks, but both were eventually shut down by regulators. Mirror Protocol, which used synthetic assets to simulate U.S. stock prices, also died with the Terra crash and SEC regulation. This is not a new thing, but the industry was not very mature at that time. And today's stock tokenization is not a reckless experiment, but a compliance path led by licensed institutions such as Robinhood and Backed Finance. This is a critical watershed. Taking Robinhood as an example, the stock tokenization service it launched in Europe this time has taken an unprecedented closed-loop path of "broker-owned + on-chain issuance". Instead of simply listing a price on the chain, Robinhood is licensed in the EU on its own, buying real US stocks, and issuing 1:1 mapped tokens on-chain. From custody, issuance, to clearing and settlement, and user interaction, the whole process is connected, and the trading experience is basically close to the combination of securities account + wallet. In the early stage, they deployed these tokens on Arbitrum to ensure that the speed and cost of on-chain transactions were controllable, and later they planned to move to the self-built Robinhood Chain, which means that the entire infra should also be controlled by themselves. Although the voting rights cannot be opened yet, because it is necessary to avoid governance supervision, the overall structure can already be seen in the prototype: it is like establishing an almost independent "on-chain securities trading system" at the structural level. For the crypto industry, this is the first time to see a traditional online brokerage, not only has autonomy on the issuance side, but also has carried out a deconstruction of the on-chain structure of assets. From reckless trials to compliance closures This round of stock tokenization is not accidental, as I have repeated before. Essentially, several core variables resonate at the same point in time. The so-called right time, place and people, probably that's it. First of all, there is the loosening of the regulatory level and the clarity of the direction. For example, MiCA in Europe has officially landed, and the SEC in the United States has stopped blindly firing the hammer and has begun to release some signals that "can be talked about and can be done". Robinhood was able to launch its stock token service in the EU so quickly because of its securities license in Lithuania; The fact that xStocks is connected to both Kraken and Bybit is also inseparable from the compliance structures it has built in Switzerland and Jersey. At the same time, since the funds on the chain are indeed looking for new assets to export, the structure of the funds in the market has changed. The gap between traditional financial markets and crypto non-MEME markets is only going to get smaller. Looking at the present, there are a bunch of projects on the chain that have no fundamentals but have ultra-high FDV, and there is no place for liquidity to go there, and stable funds have also begun to find "anchor and logical" asset allocation outlets. At this time, regular armies such as Robinhood and xStocks come in with compliant structures and trading experiences, and stock tokens become attractive. It's familiar, it's stable, it has a narrative space, and it's also tied to stablecoins and DeFi. The combination of TradFi and Crypto has gone deeper and deeper. From BlackRock to JPMorgan Chase, from UBS to MAS, traditional financial giants are no longer standing on the sidelines, but are really building chains, running pilots, and doing infrastructure. As the most mainstream and recognizable asset, stocks will obviously become the preferred choice for tokenization. Is the on-chain of traditional assets an opportunity for crypto or a threat to projects? Jiayi's subjective view: Looking ahead, stock tokenization will most likely not be an explosive growth curve, but it has the potential to become a very resilient infrastructure evolution path in the Web3 world. The significance of this narrative lies in the fact that it has brought about two important structural changes: first, the asset boundaries have begun to truly migrate on-chain, and second, the traditional financial system is willing to use the on-chain method to organize part of the transaction and custody process. These two things, once established, are irreversible. So, is it good or bad for stocks to rush for Crypto project liquidity? In my opinion, this is a typical double-edged sword. It brings higher quality assets, but it also subtly rewrites the flow structure of funds on the chain. From the Front: 1. The entry of "blue-chip assets" in traditional finance has given new places for on-chain funds, and has also added some options for the allocation of "stable assets". In a market where the narrative rotates too fast and funds move for a long time, this kind of assets with a clear structure and realistic anchor points are actually helping liquidity regain the basic coordinates of "where to allocate and where to match". 2. At the same time, this will also bring about the "catfish effect". As soon as the strong narrative asset of U.S. stock tokenization came up, the benchmark of the entire chain was raised, which will inevitably push the overall quality of Web3 projects to go up. Let's just let the garbage project be eliminated from the market, in my heart. 3. Crypto players can directly buy stocks in the form of Cypto Native, which reduces the liquidity sucking of the large pool of Crypto by US stocks But look at it the other way around: 1. It also puts pressure on crypto-native projects. Not only will the narrative be robbed, but the capital structure and user preferences on the chain will also be slowly reshaped. Especially when tokenized stocks become liquid and start running perp, lending, and portfolio allocation, it will directly compete with native assets for stablecoin traffic, mainstream users, and on-chain attention. 2. For the project party: it will be difficult to obtain financing. When there is AAPLx, TSLAx, and in the future, tokenized private equity from OpenAI or SpaceX appear in the on-chain asset pool. Investors and users' intuitive judgments about "what is worth investing in" and "what has a pricing anchor" will migrate. Stock tokenization makes us rethink: Is Web3 a system that can carry mainstream assets and real trading behavior? Can we use an open financial structure to rebuild a securities system with lower friction and greater transparency than the traditional market?

excellent write up on the past, present and future of Celestia when a professor speaks, you should listen!

<CLOBs on Blobs 🦣 and Celestia’s Comeback> In the second half of 2023, modular blockchains and rollups were at the center of crypto’s dominant narrative. However, as time passed, the narrative lost momentum due to a lack of users and decreasing transaction activity. Celestia’s blobspace also remained underutilized for a period. But things are changing again. A new narrative, “CLOBs on Blobs,” is driving real demand for Celestia’s data availability (DA) layer—not just hype, but actual on-chain traffic. I sat down with Nick White from @celestia, to discuss their long-term vision, technical philosophy, and the structural changes behind this renewed momentum. 1. Celestia’s Core Principle: Verifiability Throughout the interview, @nickwh8te emphasized that “the essence of blockchain is verifiability.” DA is not just about storing data—it's a foundational component that ensures blockchain security. Celestia was designed so that anyone can independently verify data, relying not on centralized structures like DACs (Data Availability Committees), but instead on Data Availability Sampling (DAS). To clarify: DACs rely on a small group of servers to store off-chain data and sign off on its availability. In contrast, DAS allows data to be verified via random sampling, without requiring high bandwidth or powerful hardware. This concept was introduced in a 2018 paper co-authored by Celestia co-founder Mustafa Al-Bassam and Ethereum’s Vitalik Buterin—and Celestia is the first project to bring it to mainnet. 2. Rollups Aren’t Dead—Real Demand Is Emerging Interest in rollups faded by late 2023. As blob usage on Celestia declined, many began to question whether the rollup thesis was over. Nick countered this sentiment by referencing the Gartner Hype Cycle: "Every technology goes through a phase of disillusionment." Celestia, he said, is now entering the early stage of actual adoption. He pointed to a growing trend. Traditional financial institutions and crypto exchanges are expanding into on-chain trading. Robinhood launched tokenized stock trading on @arbitrum, Coinbase introduced its L2 chain Base, Kraken unveiled Ink, and Worldcoin launched World Chain—all of them rollup-based. As these platforms scale, demand for a robust DA layer like Celestia becomes increasingly critical. Nick noted that rollups offer what general-purpose L1s cannot: low latency, customizable execution environments, and independent economic models. These advantages require strong DA infrastructure to maintain performance and trust—which is precisely where Celestia fits in. Nick also shared a compelling vision for Celestia’s long-term revenue model. While it currently generates income through DA fees, he emphasized that future value will come from shared revenue with rollup execution layers. As native rollups on Celestia proliferate and build their own execution environments, a portion of the economic activity they generate could be shared with the DA layer itself—similar to how Solana captures value from its execution layer. This approach positions Celestia not just as infrastructure, but as a platform that captures value across the entire rollup ecosystem. Nick highlighted this structural design as a key reason to be optimistic about Celestia’s long-term future—beyond short-term market cycles. As a prime example, Nick mentioned Robinhood’s tokenized stock rollout as “just the beginning.” While Ethereum DA may be sufficient at first, growing user activity will eventually strain its capacity—opening the door for Celestia to become the go-to alternative. Several TradFi firms are exploring decentralized infrastructure for stocks, options, and derivatives, all of which demand low latency, high throughput, and verifiability. According to Nick, Celestia is best positioned to meet all three. 3. CLOB on Blobs: The Next Wave of Blob Demand Blob usage on Celestia has surged recently, driven by the emergence of CLOB-based on-chain exchanges. Platforms like Hyperliquid and Hibachi are building decentralized exchanges with performance comparable to centralized ones—including fine-tuned price discovery, low-latency order matching, and complex fee models. These require massive data throughput and can only operate on rollup infrastructure. Celestia currently offers 1.33 MB/s of DA throughput (roughly equivalent to 10,000 TPS) and is targeting scalability of up to 200,000 TPS through future upgrades. As a result, blob demand has tripled in the past three months. Beyond Hibachi, other CLOB or options-focused rollups like Rise and Derive are also integrating—or actively evaluating—Celestia. 4. Expanding $TIA Utility and Controlling Inflation Celestia’s native token, $TIA, was initially used solely for paying blob fees. But the upcoming Lotus upgrade (expected in July) will significantly expand its utility. With Hyperlane bridging support, $TIA will become transferable across other chains like Ethereum and Solana, enabling its use as a yield-bearing asset within DeFi. Celestia is also addressing concerns around token inflation. The current 7% annual inflation rate is set to drop to 5%, then eventually 4%, with a long-term target of 2.5% under a proposed “Proof of Governance” model. Additionally, most VC tokens will be fully unlocked by November 2025, which should ease long-term supply pressure. 5. From Technology to Demand-Driven Proof What became clear through this interview is that Celestia is no longer just a technology story—it’s now about real demand. As on-chain exchanges scale, blob usage rises. If revenue-sharing from execution layers materializes, Celestia’s REV (Real Economy Value) will grow significantly. In short, the project is approaching a point where its tech and vision may soon be validated by numbers. While some near-term supply concerns remain due to upcoming token unlocks, the broader picture is becoming more favorable. With inflation being adjusted and $TIA entering DeFi, it’s becoming easier to imagine a more robust and sustainable Celestia ecosystem on the horizon.