Robinhood Chain, the Ethereum layer-2 network built on Arbitrum technology that the US brokerage launched to the public on July 1, 2026, has recorded a marked slowdown in on-chain activity over the past month, according to data cited by crypto.news from a CoinDesk report dated October 10, drawing on figures from growthepie and DefiLlama.
Daily average transactions fell from 10.8 million between September 10 and 16 to 6.2 million between October 2 and 8, a weekly decline of 20% versus the prior week. Average daily active addresses over the same October window stood at about 322,000, down 31% from mid-September. For European users who access Robinhood's crypto and tokenised stock products, the numbers offer an early read on how durable demand has been since launch.
Spot trading volumes also slipped, falling 21% week-on-week to $7.45 billion, against $9.46 billion recorded the previous week across decentralised exchanges tracked by DefiLlama. Uniswap accounted for roughly 77% of spot trading on the chain between October 2 and 8. Perpetual futures told a different story, with seven-day volume rising 26% to approximately $7.35 billion by October 9, access to which is provided through Lighter, introduced at the blockchain's July launch.
Fees retreat from a September spike
Network fees for the third quarter totalled $51 million, against application revenues of approximately $591.4 million and an estimated 793.7 million total quarterly transactions between July and September. Much of that fee revenue was concentrated in a short window: median transaction costs spiked to 31 times the previous average between August 30 and September 10, with daily fees peaking near $8 million in early September. That 12-day period alone generated roughly 74% of the quarter's total network fees. By October 2-8, average daily fees paid by users had fallen to approximately $65,000, a 39% drop from the previous week.
Under the Arbitrum Expansion Program, 8% of eligible net protocol revenues flow to the Arbitrum DAO treasury and 2% to the Arbitrum Developer Guild.
Deposits steady, ETF plans surface
Despite the drop in transaction and trading activity, deposits into decentralised finance applications on Robinhood Chain rose about 2% to $1.04 billion in the reference week, with stablecoin supply at approximately $1.10 billion. Later readings put deposits near $1.05 billion and stablecoin supply around $1.07 billion.
Separately, Robinhood confirmed on October 9 that it is exploring a tokenized exchange-traded fund with T. Rowe Price, which manages approximately $1.9 trillion in assets. Stock tokens on Robinhood Chain remain accessible to eligible clients in more than 120 countries, subject to local regulatory limits.
Robinhood Wallet has also extended a fee coverage promotion for swaps worth more than $0.50 to December 31, 2026, having previously been due to expire on September 29. A separate rewards programme, Arcus, began issuing points from October 1, 2026.
