Robinhood Chain slowdown spreads from fees to trading as transactions fall 40%
Summary
Robinhood Chain activity has fallen sharply: daily transactions averaged 6.2 million in Oct. 2–8, down 42% from mid-September, while active addresses declined 31% and weekly spot trading volume dropped 21%. Network fees fell 39% week over week to about $65,000 per day, far below the chain’s early-September peak. Despite the slowdown, deposits in lending and trading apps rose 2% to $1.04 billion, and stablecoin supply edged up to about $1.10 billion, suggesting funds remain on the network but are being traded less. Perpetual futures volume increased 26% to $7.35 billion. Robinhood is subsidizing swap fees through Dec. 31, and partners are offering rewards to encourage activity.
