Robinhood Chain trading volume plunges 42%, average daily transactions drop to 6.2 million

On October 10, according to CoinDesk, Robinhood Chain's average daily transaction volume has significantly declined from its mid-September peak. Between October 2 and 8, the daily average number of transactions was only 6.2 million, down 42% from the 10.8 million recorded between September 10 and 16. Daily active addresses similarly fell 31% over the same period to approximately 322,000. Spot trading volume shrank by 21% to $7.45 billion during this period, while users paid an average of roughly $65,000 in network fees per day, down 39% from the previous week and far below the $8 million single-day peak in early September. However, total on-chain deposits saw a slight increase to $1.04 billion, and the stablecoin supply rose to approximately $1.1 billion, indicating that funds remain on-chain. Perpetual futures trading volume, meanwhile, bucked the trend and surged 26% to $7.35 billion.