Robinhood Chain slowdown deepens as transactions fall 40%

Robinhood Chain's slowdown has spread from fees to trading volume: daily transactions have fallen more than 40%, from 10.8 million to about 6.2 million since mid-September, even as Robinhood keeps paying network fees on customer swaps. The decline follows an earlier collapse in fees — seven-day average fees fell 82% and peak single-day fees dropped more than 97% — while roughly $1.5 billion a day still changes hands on the network.

• The divergence previously showed fees falling while activity held near record highs; the latest data shows usage now sliding too.
• The fee and volume trajectory points to changing economics on the chain rather than a one-off activity dip.