Morning Minute: Robinhood Chain Flips Ethereum and Base in Fees

Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt.

GM!

Today’s top news:

• Crypto majors are slightly red after U.S. and Iran exchanged attacks again; BTC at $77.9k
• Solana’s disinflation vote passes Friday with the narrowest margin
• Avici neobank hacked for $1.1M, user funds lost
• Robinhood DEX volume soars to highs, flips Ethereum and Base in fees
• PONS gets Hyperliquid listing, retraces 30% then bounces after posting new revenue ATH

💸 Robinhood’s Two-Month-Old Chain Is Now Out-Earning Ethereum

Robinhood turned on its own blockchain July 1. Two months later, it collects more in fees than Base and Ethereum do, the apps built on it out-earned Ethereum’s over the past day, and its token launchpad Pons is printing more revenue than most chains.

Chain revenue is what the network keeps from transaction fees. Over 30 days Robinhood Chain pulled in $3.13 million, third among all chains behind Canton at $49 million and Tron at $26 million. Base did $2.89 million. Ethereum did $2.47 million. Over the past day the gap widened, with Robinhood at $495,477 against $71,703 for Base and $25,746 for Ethereum.