Robinhood's on-chain activity cools down: daily active users drop 31% from mid-September, DEX trading volume falls 21%

BlockBeats news, October 10 - On-chain activity on Robinhood Chain continues to cool down. Data shows that from October 2 to 8, the network's average daily transaction count dropped to 6.2 million, a 42% decrease from 10.8 million during September 10 to 16, with a weekly decline of 20%; the average daily active addresses were approximately 322,000, down 31% from mid-September.

Trading volume and network revenue are under simultaneous pressure. During the same period, weekly spot DEX trading volume on Robinhood Chain fell to $7.45 billion, down 21% from $9.46 billion the previous week; average daily network fee revenue was approximately $65,000, down 39% week-over-week. Previously, the network's fee revenue had reached $8 million in a single day in early September.

However, funds have not yet shown significant outflow. During the same period, deposits in on-chain lending and trading applications grew by about 2% to $1.04 billion, stablecoin supply rose to approximately $1.1 billion; perpetual contract trading volume increased by 26% to approximately $7.35 billion.

To stimulate trading activity, Robinhood has extended the fee subsidy for token swaps exceeding $0.5 per transaction via Robinhood Wallet until December 31. The subsidy was originally scheduled to end on September 29.