Robinhood Chain Transactions Fall 42% as Early Activity Slows

Robinhood Chain’s activity weakened in early October, with transaction counts, active addresses and spot trading volume all declining as the permissionless Ethereum Layer 2 moved beyond its initial launch period. The network averaged 6.2 million daily transactions, down 42% from mid-September levels. Spot volume fell 21% to $7.45 billion during Oct. 2-8, while deposits remained above $1 billion and perpetual-contract trading volume rose 26%. Robinhood Chain processed 4.1 million transactions in its latest daily reading, a 14.6% decline from the previous week. Daily active addresses fell 31% from mid-September levels and 18% week over week to 268,900.

Source: TokenPost