Robinhood Chain averaged 6.2 million daily transactions from October 2 through October 8, a 42% decline from the 10.8 million recorded during September 10 through September 16.
Daily active addresses fell 31%, while weekly spot trading volume declined 21% to $7.45 billion, CoinDesk calculated from growthepie data. Activity was down 20% from the immediately preceding week.
Deposits into network applications remained above $1 billion, and perpetual-futures volume rose 26%. The figures therefore show a shift in usage rather than a complete withdrawal of capital.
Robinhood continues covering network fees for customer token swaps worth more than $0.50 through December 31. Because the company retains most network fees, falling transaction counts weaken one of the chain’s direct revenue channels even while subsidized activity remains in place.
TOKEN RECON ASSESSMENT
The decline has spread from fees into users and spot turnover, which makes it harder to dismiss as a pricing anomaly. The decisive test arrives when fee subsidies expire. Stable activity after December 31 would indicate product demand, while a second drop would show that incentives were masking weak organic usage.
