Robinhood Chain Transactions Fall 42% as Early Activity Slows

Robinhood Chain’s activity weakened in early October, with transaction counts, active addresses and spot trading volume all declining as the permissionless Ethereum Layer 2 moved beyond its initial launch period.

The network averaged 6.2 million daily transactions, down 42% from mid-September levels. Spot volume fell 21% to $7.45 billion during Oct. 2-8, while deposits remained above $1 billion and perpetual-contract trading volume rose 26%.

Robinhood Chain processed 4.1 million transactions in its latest daily reading, a 14.6% decline from the previous week. Daily active addresses fell 31% from mid-September levels and 18% week over week to 268,900.

Daily chain revenue dropped 43% week over week to $33,700. Stablecoin supply held at $1.1 billion, up 1.4% from a week earlier.

The network ranked third among 27 tracked chains by transaction count and fifth by stablecoin supply and revenue. Decentralized exchange volume reached $569.19 million over the latest 24-hour period and $39.627 billion over 30 days, with Uniswap accounting for $496.7 million of the 24-hour total.

Robinhood launched the permissionless public mainnet July 1 as an Ethereum Layer 2 built with Arbitrum technology. Robinhood Wallet integrated the Arcus API on Oct. 1 for spot trading in stock tokens on the chain.

Activity remained concentrated among crypto-native users, while Robinhood’s 27 million funded accounts had not yet migrated at scale. More than 340,000 tokens had been issued by the end of August, and meme-token trading paired with Robinhood Stock Tokens reached $518 million in volume.

Robinhood will continue covering network fees for token swaps above 50 cents through Dec. 31. Stock Tokens are unavailable to U.S. persons.