Robinhood Chain Sees 40% Decline in Activity Post-Launch Amid Slowing Trading

Activity on Robinhood Chain, a blockchain designed for financial services and tokenized assets, has sharply decreased since its launch. According to Growthepie, the chain recorded 4.1 million transactions recently, marking a 14.6% decline from the previous week. Additionally, daily active addresses fell by 18%, totaling 268,900, and daily chain revenue dropped to $33,700, a staggering 43% decrease week-over-week.

Despite these declines, the stablecoin supply on the chain remained stable at $1.1 billion, reflecting a slight increase of 1.4% from the prior week. In terms of transaction volume, Robinhood Chain ranks third among 27 tracked chains, while it stands fifth in stablecoin supply and revenue.

Decentralized exchange (DEX) volume also saw significant activity, reaching $569.19 million in the last 24 hours and totaling $39.627 billion over the past month, with Uniswap contributing $496.7 million to the 24-hour volume. Robinhood Chain launched its permissionless public mainnet on July 1 as part of the Arbitrum Orbit Layer 2 ecosystem, and on October 1, Robinhood Wallet integrated the Arcus API to facilitate stock token spot trading on the chain.