Robinhood Chain Fees Plummet by 97%, Trading Volume Only Drops by 32%

The fees for Robinhood Chain have decreased by 97% from their peak in early September, but the trading volume has only dropped by 32%. At the beginning of September, the chain's daily fees were approximately $8 million, processing 13.1 million transactions at an average of 64 cents per transaction; by September 16, the daily fees had fallen to about $230,000, with a trading volume of 8.9 million transactions, averaging only 2.6 cents per transaction. There has not been a large-scale withdrawal of funds; during the seven days leading up to September 16, the chain's decentralized exchange processed about $13 billion in trading volume, a 5% increase month-on-month; the supply of stablecoins only decreased by 1% to approximately $1 billion. On-chain applications collected about $8 million in fees over the past 24 hours, retaining $1.5 million in revenue, far exceeding the network's own $230,000.

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