Robinhood Chain Transactions Fall 42% As Trading Slows

Activity on Robinhood’s Layer-2 network is falling sharply even as users leave more than $1 billion parked in its applications, setting up a decisive test for the chain’s December 31 fee deadline. Robinhood Chain averaged 6.2 million daily transactions from October 2 through October 8, down 42% from 10.8 million in mid-September, according to CoinDesk’s analysis of growthepie data. Weekly spot trading volume fell 21% to $7.45 billion, while deposits across the network’s lending and trading apps rose to $1.04 billion.

The slowdown marks a shift from September, when transactions were still near record highs even as network fees had collapsed. Now the activity measures themselves have turned lower, and the chain’s busiest products are no longer growing.

What the Data Shows

Daily active addresses averaged about 322,000 in the latest week, down 31% from mid-September, and users paid roughly $65,000 a day in network fees, down 39% from the prior week. That is a fraction of the $8 million the chain collected on its busiest day in early September. Spot exchanges handled $7.45 billion during October 2-8, down from $9.46 billion the week before, with Uniswap accounting for roughly 77% of that volume.