Volume across exchanges on Robinhood Chain was $6.80 billion in the seven days to Sunday, down 26.9% from the previous seven days, while daily active addresses fell 18% week over week. Deposits held in the chain's applications rose 4.1% over the same stretch to $1.05 billion, and Robinhood is still covering the network fee on wallet swaps until the end of December.
Trading on Robinhood Chain fell about a quarter over the past week, extending a slowdown that until now had shown up mainly in the fees the network collects. Volume across exchanges on the chain was $6.80 billion in the seven days to Sunday, down 26.9% from the previous seven days, according to DefiLlama.
The same direction shows up in the chain's other usage measures. growthepie recorded 268,927 daily active addresses on Saturday, down 18% on its week-over-week comparison, and $33,671 in network fees that day, down 42.9% measured in dollars and 38.8% measured in ether. Revenue earned by applications running on the chain fell 36% over the same comparison, to $2.17 million. That figure covers what those applications collect, not what Robinhood takes.
The deposits have not followed. Value held in applications on Robinhood Chain stood at $1.05 billion on Saturday, up 4.1% from $1.01 billion on September 29, according to DefiLlama's daily series, and growthepie put the chain's stablecoin supply at $1.10 billion, up 1.4% week over week. Money is sitting on the chain and changing hands less often.
That is a change from September. This site reported then that fees on the chain had fallen 95% from their peak while the value held in its applications rose about 15%. CoinDesk, which reported a 97% fee decline on the same day, said transactions were near their highs at that point and weekly volume was rising. It calculated that transactions have since averaged 6.2 million a day over October 2 to 8, down 42% from 10.8 million a day over September 10 to 16, with spot exchange volume for that week at $7.45 billion, down 21% from $9.46 billion.
Where the trading happens has not shifted. Uniswap's three deployed versions handled $5.34 billion of the $6.80 billion in seven-day volume, or 78.6% of it, on DefiLlama's figures. The next two venues, Ramses CL V2 and Tessera V, accounted for $208 million and $197 million. DefiLlama's trailing 24-hour figure, read on Sunday evening, was $593 million.
Fees matter more to Robinhood than to most chain operators. Robinhood keeps roughly nine-tenths of the network's fee income, according to a Bernstein note that CoinDesk cited last month, which makes the fee line close to a direct read on what the chain earns its owner. CoinDesk also reported that Robinhood will pay the network fee on any swap above 50 cents made through its wallet until December 31, after pushing back an earlier promotion that had been due to expire on September 29. On CoinDesk's figures the network was collecting about $65,000 a day over October 2 to 8, down 39% on the week, against $8 million on its busiest day in early September. Arcus, a trading platform on the chain, added extra reward points on October 1 for stock-token swaps made through Robinhood Wallet, CoinDesk said.
The address figures need care. One person can control many addresses, and automated traffic can generate large numbers of both addresses and transactions, so an 18% fall in active addresses does not mean 18% fewer people are using the chain. CoinDesk, working from the same provider, put the latest week at about 322,000 active addresses a day, down 31% from mid-September, and made the same point about what the number does not establish. The direction is consistent across addresses, fees and exchange volume, which come from two separate data providers.
Robinhood Chain is still far busier than the layer-2s that have stopped. Blast and Abstract announced wind-downs four days apart this month, and Somnia was processing 1.95 million transactions a day for 357 active addresses. The issue on Robinhood Chain is the fall from a much higher base: growthepie's current series begins on August 12, when the chain recorded 5.18 million daily active addresses, about 19 times Saturday's count.
Robinhood launched the chain in July for token trading, borrowing and lending through Ethereum-connected applications, with round-the-clock trading of stock- and fund-linked tokens planned. Tokenized equities have begun trading elsewhere in the meantime. Securitize put 12 US stocks on Solana as entitlements rather than shares earlier this month, trading in extended US hours.
Perpetual futures are the exception. CoinDesk put rolling seven-day volume in that market at about $7.35 billion as of Friday, up 26%, the only activity measure it found growing. The fee promotion runs to December 31, and swaps made through Robinhood's wallet carry their own network costs after that.
