Robinhood Chain transactions fall 42% as trading activity slows

Robinhood Chain, the Ethereum-based Layer-2 network launched in July 2026, has experienced a significant slowdown in activity. Between October 2 and October 8, 2026, the network averaged 6.2 million daily transactions, representing a 42% decline from the 10.8 million daily average recorded in mid-September.

Daily active blockchain addresses also fell by 31% to approximately 322,000. Network fees saw a sharp reduction, averaging roughly $65,000 per day, a significant drop from the $8 million peak seen in early September. This decline follows a period of intense memecoin trading that drove high gas spending.

Despite the drop in transaction volume and spot trading, which fell 21% to $7.45 billion, capital remains on the network. Deposits across decentralized finance (DeFi) applications rose by 2% to $1.04 billion, and the stablecoin supply increased to approximately $1.10 billion. Additionally, perpetual futures trading showed growth, with seven-day volume rising 26% to $7.35 billion. Robinhood has extended its promotion to cover network fees for eligible wallet swaps through December 31, 2026.