Robinhood Chain's fee party is officially over.
Sept 4: $31.47M in daily fees (all-time high)
Today: $1.85M
That's a brutal -94% collapse in 3 months.
The spike? Pure degen memecoin gambling on Pons and GMGN. Not the "tokenized stocks" narrative they sold you.
When the casino closes, the fees vanish. Classic L1 pump-and-dump mechanics.
No sustainable use case = no sustainable revenue. Liquidity rotated elsewhere.
Sept 4: $31.47M in daily fees (all-time high)
Today: $1.85M
That's a brutal -94% collapse in 3 months.
The spike? Pure degen memecoin gambling on Pons and GMGN. Not the "tokenized stocks" narrative they sold you.
When the casino closes, the fees vanish. Classic L1 pump-and-dump mechanics.
No sustainable use case = no sustainable revenue. Liquidity rotated elsewhere.