Robinhood Chain Activity Drops Sharply While DeFi Deposits Hold Above $1B

Robinhood Chain's average daily transactions fell from 10.8 million to 6.2 million between September 10–16 and October 2–8, 2026, a 42% decline. Active addresses dropped 31% to about 322,000, spot trading volume declined 21% to $7.45 billion, and perpetual futures volume rose 26% to roughly $7.35 billion. Deposits in its decentralized finance applications increased about 2% to $1.04 billion, while eligible Robinhood Wallet swaps receive network fee coverage through December 31, 2026.

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Robinhood Chain opened its public mainnet on July 1, 2026, using Arbitrum technology. Its third quarter recorded about 793.7 million transactions, $51 million in network fees, and roughly $591.4 million in application revenue. A late-August to early-September spike was extreme: median transaction costs hit 31 times their earlier average, and those 12 days generated about 74% of quarterly network fees.

Uniswap accounted for roughly 77% of decentralized spot trading in the October 2–8 window. Stablecoin supply was about $1.10 billion, later near $1.07 billion. Perpetual futures came via Lighter at launch,