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Robinhood Chain DEX volume drops 72.5% as transactions surge
The chain’s average trade size fell sharply, with volume per transaction down 74% from mid-July before a partial rebound, even as deposits, TVL, and stablecoin supply hit records.
Robinhood Chain’s decentralized exchange (DEX) volume fell 72.5% from a peak of about $878 million on July 11 to $241 million on Aug. 1, even as other activity indicators climbed, The Defiant reports. Transactions, total value locked, and stablecoin supply all reached record highs during the same period, but the average trade size collapsed. The chain processed more activity worth less, and more than 90% of the network’s incentive spending goes to depositors, according to the outlet.
A 7-day view shows continued pressure on volume, with the seven-day average dropping from $671 million in the week ending July 14 to $356 million in the week ending Aug. 5, a 47% decline. The drop also appeared specific to Robinhood Chain rather than a broader market move, since DEX volume across all chains rose from $5.27 billion on July 11 to $7.33 billion on Aug. 5.
Robinhood Chain showed signs of recovery toward the end of the window, including $517 million on Aug. 5 and $665 million by 16:30 UTC on Aug. 6 (an incomplete day). The chain recorded 13.3 million transactions on Aug. 5, its highest ever, while TVL hit a record $433 million on Aug. 6, stablecoin supply rose to a record $597 million, and volume per transaction fell from $105.56 on July 13 to $27.82 by Aug. 4 before rebounding to $39.07 on Aug. 5.