Robinhood Chain fees collapse 97% even as transactions stay near record highs
The collapsing payment chart invited a proof that increased prices could have chased merchants again to Solana and brought Robinhood’s quantity with them. Weekly knowledge, nonetheless, exhibits a narrower retreat.
Robinhood’s decentralized exchanges dealt with about $13 billion within the seven days by way of Sept. 16, up 5% from the previous week, in keeping with CoinDesk calculations utilizing DeFiLlama, whereas stablecoin provide slipped simply 1% to round $1 billion, with about $930 million of that sitting in decentralized-finance functions.
The companies constructed on the chain saved incomes way over the chain itself, taking about $8 million in charges over the most recent 24 hours and retaining $1.5 million as income per knowledge tracked by DeFiLlama, in opposition to the community’s $230,000.
What merchants are saying
Pseudonymous dealer Unipcs, who’s ranked first by all-time revenue on FOMO, a buying and selling platform that tracks memecoin merchants’ efficiency publicly, held his positions by way of the reversal and mentioned the costly stretch by no means entered his pondering.
“The sooner increased fuel charges didn’t have an effect on me or any trencher I do know,” he advised CoinDesk in a Telegram message. “Individuals do not care about that so long as they’ll make cash on the chain.” Trencher, in crypto parlance, is somebody who trades newly launched tokens within the earliest hours after they seem, when costs transfer quickest.
