Robinhood Chain transactions drop over 40% as memecoin trading cools
Robinhood Chain, an Ethereum layer-2 network that launched its public mainnet on July 1 2026, saw average daily transactions fall 42% between mid-September and the first full week of October, dropping to 6.2 million.
- Cooling memecoin trading was the primary driver of the network's activity slowdown
- Total value locked in Robinhood Chain applications remained above $1 billion during the slowdown