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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
10/11/2026

Robinhood Chain Activity Drops 42% as Memecoin Trading Cools

What happened: Robinhood Chain, an Ethereum Layer 2 launched in July, saw daily transactions fall from 10.

Robinhood Chain Activity Drops 42% as Memecoin Trading Cools

What happened: Robinhood Chain, an Ethereum Layer 2 launched in July, saw daily transactions fall from 10.8 million in mid-September to 6.2 million in early October—a 42% decline. Daily active addresses dropped 31% to about 322,000, and weekly spot trading volume decreased 21% to $7.45 billion. However, perpetual futures volume rose 26% to $7.35 billion, and on-chain deposits increased slightly to $1.04 billion.

Why it matters: The sharp decline in activity is attributed mainly to a cooling in memecoin trading rather than a broad user exodus, as stablecoin supply and deposits remain steady. Robinhood has extended its fee subsidy for swaps over $0.50 through year-end, indicating a willingness to support user activity. The data suggests users are waiting on the sidelines rather than leaving the ecosystem entirely.

Source: CoinDesk