Robinhood Chain deposits surge even as daily active users slip 7%

Robinhood Chain is pulling off an interesting magic trick: more money flowing in, fewer people showing up each day. The Layer-2 network, which launched on July 1 using Arbitrum Orbit technology, saw daily active accounts average around 275,000, a 7% decline week-over-week. But deposits kept climbing anyway. The numbers tell two stories Total Value Locked on Robinhood Chain hit a record $588.9 million on July 21, less than a month after launch. Capital inflows surpassed $500 million in the chain’s early weeks. Cumulative DEX volume since launch landed somewhere in the $8 billion to $9 billion range. Daily active users peaked at 323,969 on July 21, a figure that briefly surpassed Coinbase’s Base chain. By late July, that number had cooled to the 275,000 average. Meanwhile, monthly active users exceeded 2 million and showed a 50% increase within a single week. DeFi integrations are doing the heavy lifting Morpho, the lending protocol, saw its deposits on Robinhood Chain surge 74% in a single week, reaching $222 million. Aave, the other major lending integration, alongside Morpho offers yield opportunities including a 7% return on USDG deposits. Uniswap handles liquidity and trading, w...