Robinhood Chain Took In $51.11 Million in Q3 Fees, Paid Less Than $70,000 to Settle on Ethereum
Summary
- Robinhood Chain generated $51.11 million in transaction fees in the third quarter, while paying only about $69,170 in settlement costs to the Ethereum network, the report said.
- According to the report, Robinhood Chain kept about $45.93 million of the total fees, while roughly $5.11 million went to the Arbitrum ecosystem.
- Still, about 74% of fee revenue was generated over just 12 days in the third quarter, meaning the sustainability of fee revenue will need to be monitored.
Forecast Trend Report by Period
Robinhood Chain generated $51.11 million in transaction fees in the third quarter while paying about $69,170 in settlement costs to the Ethereum network.
Crypto news outlet CryptoSlate reported on October 22, citing a staking report from digital-asset manager Bitwise, that the gap between Robinhood Chain's third-quarter fee revenue and its Ethereum settlement costs was wide.
The report estimated that Robinhood Chain kept about $45.93 million of the total fees. The remaining roughly $5.11 million went to the Arbitrum ecosystem, which provides the underlying technology.
Still, about 74% of the fee revenue was generated over just 12 days during the third quarter.
CryptoSlate said that, given that concentration, the sustainability of future fee revenue remains to be seen.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.