Robinhood Chain transactions fall more than 40% as memecoin trading cools

Robinhood Chain’s memecoin party is winding down. According to CoinDesk, the network’s slowdown has moved beyond fees and into trading activity, with transactions falling more than 40%. That’s a sharp reversal for a chain that only went live on July 1, 2026. From $8 million a day to pocket change Start with fees, where the drop was most dramatic. Daily fees on Robinhood Chain peaked at approximately $8 million in early September. By September 16, they had collapsed 97% to about $230,000. Transactions followed fees lower. Daily transaction counts slid from 13.1 million to 8.9 million by mid-September, a day-over-day decline of roughly 32% on that measure. The smoothed view is gentler. The seven-day average for transactions dipped only about 6% over the same stretch. The engine behind both the boom and the bust was memecoin trading. Launches on platforms such as Pons generated heavy gas spending in August and early September, which is what pushed fees so high. Weekly memecoin volume on Pons fell 37% as appetite for high-gas activity cooled. The numbers that didn’t crack Decentralized exchange (DEX) volume on the chain held at or above $1 billion daily during mid-September, even as fe...