Robinhood Chain’s daily fee revenue fell about 97% from its early-September peak to roughly $230,000, while transactions remained high at 8.9 million and decentralized-exchange volume increased 5% week over week to about $13 billion. The divergence reflects a sharp cooling in memecoin issuance and trading, which reduced network usage costs more than overall activity. Average transaction costs fell from 64 cents to 2.6 cents by Sept. 16. The earlier surge generated $2.7 million in application fees on Aug. 30, with Pons and GMGN contributing about $2 million as users launched 22,600 tokens. Stablecoin supply slipped 1% to roughly $1 billion, while applications continued to earn considerably more than the network itself.