Robinhood Chain Fees Plummet 97%, Daily Transaction Volume Remains Near All-Time High
CoinDesk data shows that Robinhood Chain's average daily fees on September 16 have dropped to approximately $230,000 from an early September peak of about $8 million, a 97% decrease. During the same period, average daily transactions fell from 13.1 million to 8.9 million, a 32% decline. Despite the decrease in fees and transaction volume, the chain's decentralized exchanges (DEXs) processed about $13 billion in trading volume in the seven days ending September 16, a 5% increase from the previous week. On-chain stablecoin supply slightly decreased by 1% to approximately $1 billion. On-chain trader Unipcs stated that high gas fees have not affected their trading and expects Robinhood Chain's users, transaction volume, and fees to reach new highs by the end of the year.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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