Robinhood Chain activity cools as daily transactions slide 42%

Between October 2 and October 8, the network processed an average of 6.2 million daily transactions, a significant drop from the 10.8 million recorded during the mid-September peak. Data from analytics provider growthepie reveals that active blockchain addresses also fell by 31%, settling at approximately 322,000 per day. This contraction follows a volatile August and September, which saw a surge in speculative trading and memecoin activity.

Despite the decline in spot trading—which fell to $7.45 billion for the week—perpetual futures volume bucked the trend, rising 26% to $7.35 billion. This divergence suggests that while retail spot interest has waned, traders remain active in derivatives via the Lighter protocol. Furthermore, the total value locked in decentralized finance applications remains resilient, hovering above $1 billion.

To sustain momentum, Robinhood has extended its fee-coverage promotion for eligible wallet swaps through December 31, 2026. The brokerage is also looking toward long-term growth, recently confirming plans to explore a tokenized ETF in collaboration with T. Rowe Price. While current network fees have plummeted from their early September highs—dropping to roughly $65,000 per day—the platform's infrastructure remains tied to the Arbitrum ecosystem, with a portion of protocol revenue directed toward the Arbitrum DAO.