Robinhood Chain Activity Fails to Show Clear Signs of New-User Adoption

Recent analysis by ARK Invest's Lorenzo Valente raises questions about how much of Robinhood Chain activity represents new users entering crypto.

In a tweet thread, Valente analyzed smart-contract activity on the network and compared identifiable transactions with routes associated with Robinhood Wallet. He found that confirmed Robinhood Wallet activity represented less than 1% of the transactions he examined.

Valente estimated that Robinhood-linked activity could rise to around 5% if some unidentified contracts were included, but noted that this figure is a generous upper estimate as the unidentified activity could also have originated from outside platforms.