Daily fees on Robinhood Chain peaked at approximately $8 million in early September before collapsing 97% to roughly $230,000 by September 16. The number of daily transactions dropped from 13.1 million to 8.9 million, a decline of more than 40%. Weekly memecoin volume on Pons fell 37%, signaling waning appetite for gas-intensive activities. Despite this turbulence, daily decentralized exchange volume held above $1 billion and total value locked remained steady at around $1 billion. The Ethereum layer-2, which launched on July 1, 2026 using Arbitrum Orbit technology, has not experienced a mass migration to rival networks like Solana.
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