Robinhood Chain slowdown spreads from fees to trading as transactions fall more than 40%
Daily activity has dropped from 10.8 million transactions to 6.2 million since mid-September even as Robinhood keeps paying network fees on customer swaps.
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Summary
- Robinhood Chain averaged 6.2 million daily transactions from Oct. 2 through Oct. 8, down 42% from mid-September, while daily active addresses fell 31%.
- Weekly spot trading volume dropped 21% to $7.45 billion, but deposits remained above $1 billion and perpetual futures volume rose 26%.
- Robinhood will continue covering network fees on token swaps worth more than 50 cents through Dec. 31 as it seeks to revive activity.
