Crypto08 September, 20262 min read
Robinhood Chain Fees Plunge 97% as Transactions Stay Near Record Highs
This article is an automated aggregation of coverage from news outlets. Our editorials offer in-depth analysis curated by the NewsCord team.
Robinhood Chain fees plunged 97% to about $230,000 daily from early September peak. Daily on-chain volume remains near $1.5 billion with transactions near record highs.
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Fees crater, activity holds
Robinhood Chain’s daily fees fell 97% from an early-September peak of roughly $8 million to about $230,000 by Sept. 16, while transaction counts declined 32% to 8.9 million from 13.1 million.
CoinDesk said the seven-day average showed a narrower retreat, with fees down 82% while transaction counts slipped 6%, and it put about $1.5 billion a day still changing hands on the network.
Altcoin Buzz tied the fee collapse to a cooling token-launch cycle, saying the memecoin rush that made Robinhood Chain “one of the most expensive networks to use has cooled,” taking 97% of fee income with it even as activity stayed near highs.
Altcoin Buzz also reported that Robinhood’s decentralized exchanges handled about $13 billion in the seven days through Sept. 16, up 5% from the preceding week, and that stablecoin supply slipped just 1% to around $1 billion.
In the same window, Altcoin Buzz said Uniswap V3 volume on the chain more than doubled from $2.5 billion to $5.3 billion, while Uniswap V4 volume fell 22% to $4.9 billion.
Token launches drive the gap
Altcoin Buzz said the early-September peak was driven by token launches, including Aug. 30 when applications on the two-month-old chain earned $2.7 million in a day.
It added that token issuance platform Pons and memecoin trading app GMGN supplied about $2 million of that total as users launched 22,600 tokens in 24 hours.
By Sept. 10 to 16, Altcoin Buzz reported Pons recorded about $616 million in trading volume, down 37% from the previous seven days, with protocol revenue falling from $10.7 million to $5.8 million.
CoinDesk described the same pattern as a shift in fee economics rather than a collapse in usage, saying the money paid to use the chain fell 97% while activity on it fell 32%.
Altcoin Buzz also said apps built on the chain still earned about $8 million in fees over the latest 24 hours and retained $1.5 million as revenue, against the network’s $230,000.
Traders watch venues, not gas
CoinDesk quoted pseudonymous trader Unipcs, ranked first by all-time profit on FOMO, saying in a Telegram message, "The earlier higher gas fees did not affect me or any trencher I know."
“People don't care about that as long as they can make money on the chain.”
CoinDesk continued with Unipcs’ view that "People don't care about that as long as they can make money on the chain,” as it framed the fee drop alongside continued high turnover.
Altcoin Buzz reported that bridge platform deBridge processed $8.2 million from Robinhood to Solana during Sept. 10 to 16 and just over $6 million in the opposite direction, for a net outflow of about $2 million.
CoinDesk said Solana’s decentralized exchanges processed about $17 billion during Sept. 10-16, down 8% from the preceding week, while PumpSwap recorded $2.9 billion, down 36% against Pons’ 37% decline.
Altcoin Buzz concluded that it expected Robinhood Chain’s users, trading volume and fees to set new records before year-end, with speculative memecoin activity still mainly across Robinhood Chain, BNB Chain and Solana.