Robinhood (HOOD) Stock: Chain Activity Slides 42% While Free Fee Promo Runs to December
Photo: CoinCentral
TLDR Robinhood Chain daily transactions fell 42% to 6.2 million from mid-September. Spot trading volume dropped 21% in a week to $7.45 billion. Deposits still rose 2% to $1.04 billion, so money is staying put. Network fees fell 39% to about $65,000 a day. Robinhood will pay wallet swap fees until Dec. 31, which sets up the next test. Robinhood (HOOD) is watching its blockchain lose speed. Daily transactions on Robinhood Chain averaged 6.2 million from Oct. 2 to Oct. 8, down 42% from 10.8 million in mid-September. The drop was 20% from the prior week alone.
Source: CoinCentral
