Robinhood Chain Trading Volume and Active Users Decline 27% After Initial Meme Coin Rally

According to The Block, Robinhood Chain's on-chain metrics declined significantly in the week ending July 28. Daily average DEX trading volume fell 27% to approximately $553 million, while daily active accounts dropped 7% to around 275,000.

Funding turnover rates plummeted from 9.25x in the chain's second week to 1.68x as of July 25, indicating deposit growth is outpacing trading activity. Individual active account transaction volumes declined from a peak of approximately $2,800 two weeks earlier to roughly $2,000 last week, reflecting cooling trader engagement following the initial Meme coin-driven rally.