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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
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