Robinhood generates $51 million in blockchain fees while Ethereum settlement costs total just $69,000

Robinhood Chain's trading surged more than twentyfold in three months as its operator captured nearly $46 million in network fees. The Ethereum layer-2 network, launched on July 1, recorded $14.05 billion in tokenized stock trading volume during its first quarter, according to Bitwise's Oct. 20 staking report . Monthly volume climbed from $526 million in July to $2.21 billion in August before reaching $11.31 billion in September. The expansion helped the network generate $51.11 million in transaction fees during the quarter, with Robinhood retaining an estimated $45.93 million, or nearly 90%, before operating expenses.

Source: CryptoSlate