TVL climbed to about $325 million within a month of mainnet launch even as active users and DEX trading retreated from peak levels, suggesting yield-driven inflows are replacing the early meme-coin trading surge.
Robinhood Chain's on-chain activity cooled last week, with average daily active accounts at around 275,000, down 7% from the previous week, and decentralized exchange, or DEX, volume averaging $553 million per day, a 27% week-over-week decline. Even as trading and user activity pulled back from peak levels, the network's total value locked rose to about $325 million less than a month after its mainnet launch. The inflows appear to be driven by Robinhood Earn, which offers roughly 7% APY on USDG, indicating capital is entering the chain for yield rather than trading as the initial meme-coin surge fades.