Robinhood Chain had one of the fastest starts of any new network this year. The latest weekly data shows that momentum fading on almost every metric, per CoinDesk.

📌 The news

Daily transactions averaged 6.2 million between October 2 and 8, down 42% from 10.8 million in mid-September. The chain runs on Arbitrum technology, which ties its activity to the wider $ARB ecosystem.

🔍 Why it matters

• It is a live test of whether a brokerage can pull its users onchain and keep them there

• Fees have dropped hard: about $65,000 a day last week, against $8 million on its busiest day in early September

• Robinhood keeps roughly nine tenths of network fees, per a Bernstein note, so this is real revenue at stake

📊 The numbers

• Active addresses: about 322,000 a day, down 31% from mid-September

• Spot volume: $7.45 billion for the week, down 21%, with Uniswap handling about 77%

• Perpetual futures volume: about $7.35 billion, up 26%

• Deposits in lending and trading apps: about $1.04 billion, up around 2%

⚖️ Bull vs bear case

Bull: deposits and perps are still growing, which suggests a core of committed users, and Robinhood is paying swap fees over $0.50 through December 31.

Bear: activity that depends on subsidies and reward points can fade once those end, and spot trading is already cooling.

👀 What to watch next

• Whether transactions stabilise above 6 million a day, or keep sliding week after week

• The decision on paid transaction priority, which CoinDesk reports is under review

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💡 My take: In my opinion a cooldown after a launch spike is normal. The stat I would watch is deposits, because users who park money onchain tend to stay longer than users who come for points.

💬 Is a 40% drop after launch hype a warning sign or just normal settling?

#RobinhoodChain #Arbitrum #Layer2