Robinhood Chain Defenders Dismiss Revenue Slump Amid Strong DEX Volume

Two prominent figures in the crypto space have defended Robinhood Chain against criticism of its revenue performance. Haseeb Qureshi, managing partner at Dragonfly, pointed out that despite a sharp drop in chain fees due to reduced trading costs, daily DeFi volume remained strong.

According to DefiLlama data, Robinhood Chain recorded $403,000 in chain revenue and about $448,600 in fees over the past 24-hour window. This is against the $1.81 billion that it recorded in DEX volume within the same period.

The network's total value locked (TVL) has grown to over $937 million, with a stablecoin market cap exceeding $1 billion. USDG makes up over 68% of this stablecoin float.