Robinhood Chain’s metrics peaked on September 4, when daily DEX trading volume reached $3.5 billion, while TVL was only around $830 million.
By October 18, TVL had risen to around $1 billion, but daily DEX trading volume had fallen to $700 million.
Over a little more than a month:
TVL grew by about 20%
DEX trading volume fell by about 80%
This shows that funds on the chain haven’t withdrawn in tandem with trading volume, but trading activity has clearly cooled.
In my opinion, Robinhood Chain’s biggest problem right now isn’t a lack of funds, but a lack of reasons to keep attracting funds to trade.
The high trading volume previously was largely driven by the wealth-making frenzy around
$PONS
and Meme speculation. Once the hype faded, trading volume fell too.
By October 18, TVL had risen to around $1 billion, but daily DEX trading volume had fallen to $700 million.
Over a little more than a month:
TVL grew by about 20%
DEX trading volume fell by about 80%
This shows that funds on the chain haven’t withdrawn in tandem with trading volume, but trading activity has clearly cooled.
In my opinion, Robinhood Chain’s biggest problem right now isn’t a lack of funds, but a lack of reasons to keep attracting funds to trade.
The high trading volume previously was largely driven by the wealth-making frenzy around
$PONS
and Meme speculation. Once the hype faded, trading volume fell too.