Robinhood Chain processes 600M transactions with under $50K spent on Ethereum settlement
- —On September 3, users paid $4.5M in fees while Ethereum costs were $396
- —30-day DEX volume was $38.8B, with Uniswap contributing $32.6B
- —TVL grew from zero in July to nearly $1B by September
- —Network fees fell 97% to $230K while transactions declined only 32%
Why it matters: Rising L2 activity does not convert into Ethereum revenue, calling into question the economics of the rollup model for ETH holders.
Source: Crypto News Flash