Less than a month after Robinhood Chain's mainnet launch, the on-chain TVL has risen to about $325 million, but trading activity and user numbers have recently declined. Over the past week, the daily average trading volume on on-chain DEXs was approximately $553 million, down 27% from the previous week. The daily average of active accounts was around 275,000, a week-on-week decrease of 7%. The on-chain capital turnover rate (DEX trading volume / TVL) has dropped from 9.25x in the second week of July to 1.68x last Friday, indicating that new funds are being used more for yield generation rather than trading activity. Analysts believe this may be related to Robinhood Earn offering a roughly 7% yield on USDG. Meanwhile, the trading volume per active account has fallen to about $2,000, down from the peak of around $2,800 two weeks ago. (The Block) https://(wublock123.com)/news/robinhood-chain-tvl-hits-325m-volume-and-active-users-drop-65487