Robinhood Chain fees plunge 97% as activity holds

• Robinhood Chain fees have fallen 97% to about $230,000 a day, while transactions have remained near record levels.
• Daily transactions have dropped 32% from their early-September peak, but decentralised exchange volume has risen 5% to $12.8 billion.
• The data suggests lower fees have driven the decline in network revenue, rather than traders leaving the chain in large numbers.

Robinhood Chain has seen daily fees fall 97% to about $230,000, while 8.9 million transactions were still processed on September 16.

The network collected roughly $8 million in fees from 13.1 million transactions at its early-September peak, compared with 2.6 cents per transaction on September 16.

“People don't care about that as long as they can make money on the chain,” said pseudonymous trader Unipcs.

Robinhood’s decentralised exchanges have processed about $12.8 billion in volume, up 5% over the seven days through September 16, while stablecoin supply has slipped 1% to about $1 billion.

The latest data has not shown a broad migration to Solana, with Solana decentralised exchange volume falling 8% to $17 billion during the same period, while bridge flows produced a net $2 million outflow from Robinhood Chain.

Pons, the launchpad that helped drive Robinhood Chain’s earlier activity, has recorded $616 million in trading volume for September 10–16, down 37% from the previous week, while its protocol revenue has fallen from $10.7 million to $5.8 million.

Robinhood Chain has still averaged 10.8 million transactions and $641,000 in daily fees over the seven days ending September 16, compared with 11.5 million transactions and $4 million in daily fees during the seven days ending September 4.