Robinhood Chain TVL Hits $325M in Less Than a Month, But DEX Volume and Users Fade

According to The Block, Robinhood Chain's total value locked (TVL) reached approximately $325 million in less than a month since mainnet launch, with no losing days recorded. However, all throughput metrics peaked in the chain's second week and have since declined. DEX volume averaged $553 million daily last week, down 27% week-over-week, while active accounts fell 7% to around 275,000 per day.

The chain's turnover ratio fell from 9.25x to 1.68x by Friday, indicating deposits are arriving faster than being traded. This shift suggests recent capital inflows are yield-motivated rather than trade-driven, likely due to Robinhood Earn's 7% APY offering on USDG.