🚨 BREAKING NEWS: Robinhood Chain slowdown spreads from fees to trading as transactions fall more than 40%

The slowdown on Robinhood’s blockchain has spread from fees to trading itself, with daily transactions down 42% from mid-September even as the brokerage keeps paying the network fees on token swaps worth more than 50 cents that customers make through its Robinhood Wallet app.

The network averaged 6.2 million transactions a day during Oct. 2–8, down from 10.8 million during Sept. 10–16, according to CoinDesk calculations usinggrowthepie data. Activity fell 20% from the preceding week alone.

Robinhood launched the chain in July to let people trade tokens, borrow and lend through applications connected to Ethereum, with plans for round-the-clock trading of tokens tied to stocks and funds.

Every transaction pays a network fee, and the apps built on top charge their own fees for trades and loans. Robinhood keeps roughly nine-tenths of the network fees, according to a Bernstein note last month, so fewer transactions means less income from the chain.

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📰 Nguồn: 🪙 CoinDesk

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