Robinhood Chain slowdown spreads from fees to trading as transactions fall more than 40%
CoinDesk 2026-10-10 04:44:35
Context: Robinhood Chain, a blockchain launched by Robinhood in July for token trading, borrowing, and lending, has experienced a significant slowdown in activity. The network's daily transactions have dropped 42% from mid-September to an average of 6.2 million from October 2 to October 8. This decline has affected trading volume, with weekly spot trading volume falling 21% to $7.45 billion.
Key Facts
- Robinhood Chain's daily transactions averaged 6.2 million from October 2 to October 8, down 42% from 10.8 million in mid-September.
- Daily active addresses on the network fell 31% from mid-September to approximately 322,000.
- Weekly spot trading volume on the chain dropped 21% to $7.45 billion from $9.46 billion the previous week.
- Robinhood will continue to cover network fees on token swaps worth over 50 cents through its Robinhood Wallet app until December 31.