Robinhood Chain fees drop 97% as meme coin frenzy cools

Robinhood Chain has seen a 97% decline in network fee revenue from its early September peak, even as transaction volume remains relatively stable with only a 32% decrease. While some speculated that high gas costs were driving traders back to Solana, on-chain data shows that decentralized exchange volume on Robinhood Chain actually rose 5% to $13 billion in the week ending Sept. 16. Activity on the meme coin launchpad Pons has slowed, but traders remain active on the network. Cross-chain data indicates only a minor net outflow to Solana, suggesting that the cooling of fees is due to lower per-transaction costs rather than a mass exodus of users.