Most Robinhood Chain Activity Comes from Experienced Traders, Not New Users
ARK Invest's Lorenzo Valente has analyzed data on Robinhood Chain and found that most of its activity comes from existing traders, not new users entering through Robinhood. According to Valente, less than 1% of transactions on the network are linked directly to Robinhood Wallet users.
The remaining activity is attributed to external platforms like GMGN and OKX, which provide access to on-chain assets without requiring users to go through Robinhood Wallet. This means that the majority of trading on Robinhood Chain comes from experienced crypto participants rather than new cryptocurrency users.
Valente's analysis also found that even when users do enter through Robinhood, they often use external platforms or aggregators to interact with the network. This makes it difficult to accurately track user activity and revenue generated by Robinhood customers on the platform.