After a 72.5% slide from its Jul. 11 peak to Aug. 1, the chain rebounded in early August as transactions, total value locked and stablecoin supply hit records despite incentives favoring depositors over traders.
Robinhood Chain recorded more than $322 million in trailing 24-hour DEX trading volume on Aug. 6, ranking fifth across chains behind BNB Chain, Solana, Ethereum mainnet and Base, after falling from about $878 million on Jul. 11 to $241 million on Aug. 1. Even as its share of global DEX volume dropped from 16.65% to 4.32%, transactions, total value locked and stablecoin supply hit records, indicating a 74% slump in average trade size while incentives that directed 92% of $58,351 a day to two Morpho-based deposit campaigns helped lift lending balances. Volume later showed signs of rebounding on Aug. 5 and Aug. 6, with Uniswap v4 gaining share after pools.trade launched on Aug. 5.