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      Robinhood Chain Sees Over 40% Drop in Transactions Amid Cooling Memecoin Market

      Robinhood Chain, an Ethereum layer-2 network launched on July 1, 2026, has experienced a significant decline in transaction activity, with a drop of more than 40% as interest in memecoin trading wanes. This downturn follows a dramatic decrease in daily fees, which peaked at approximately $8 million in early September but plummeted by 97% to around $230,000 by September 16.

      The decline in transactions is evident as daily counts fell from 13.1 million to 8.9 million by mid-September, marking a day-over-day decrease of roughly 32%. However, a smoothed seven-day average showed a more moderate decline of about 6% during the same period. The surge in activity earlier this year was largely driven by memecoin trading, particularly on platforms like Pons, which saw weekly trading volume drop by 37% as the demand for high-gas transactions diminished.

      Despite the downturn in fees and transactions, decentralized exchange (DEX) volume on Robinhood Chain remained relatively stable, holding at or above $1 billion daily in mid-September. Although DEX volume decreased from a peak of approximately $1.88 billion, total value locked (TVL) on the chain remained steady at around $1 billion, indicating resilience amid the fluctuations. Additionally, there has been no significant migration of users to competing networks, suggesting stable user retention as the chain diversifies its offerings beyond memecoins.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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