Robinhood Chain Fees Leave Ethereum in the Shadows

The Robinhood Chain has been collecting significant transaction fees since late April, but its revenue is not directly translating into economic value for Ethereum. On September 3, the chain collected $4.5 million in fees while paying only $398 to Ethereum.

According to analysis by Wu Blockchain, based on Bitquery data from Digital Asset's South Korea office, the Robinhood Chain has processed over 600 million transactions since late April. In contrast, the on-chain cost transferred to Ethereum during the same period was approximately $49,000, averaging around $370 per day.

The analysis noted that transaction fees collected on Layer 2 networks like the Robinhood Chain can remain with the entities operating the sequencers. This means that while trading volume and fee revenue grow on these networks, the revenue directly earned by Ethereum remains limited to data publishing costs.