Robinhood Chain fees collapse 97% even as transactions stay near record highs

In response to Jason Calacanis' doubts about Bitcoin's trading capabilities, smart contracts, and user experience, Michael Saylor stated that Bitcoin is now a successful project with a market value of $1.6 trillion and the most valuable digital asset in the world. (Source: CoinDesk)

European Central Bank Managing Director Stunaras stated that the ECB must be vigilant about the risk of rising inflation, but should not act hastily. Stunaras said that there has not yet been a second round of effects generated through channels such as wages, but it cannot be taken for granted that this situation will continue. If there is a surge in inflation or an increase in energy costs in September, a rate hike in October cannot be ruled out, but if there are doubts, the European Central Bank will wait for the next round of forecasts. Stournaras believes that the Federal Reserve's interest rate decisions enhance the credibility of global monetary policy. (Source: Jin Shi)

Ali Charts stated that there has been an increase in XRP network whale activity in the past 96 hours, with large holders purchasing approximately 1.54 billion XRP tokens worth around $2 billion.

"Bitcoin feels like the CD in the age of Spotify, the DVD in the age of Netflix," wrote Jason Calacanis.

Robinhood Chain's fee revenue decreased from approximately $8 million per day in early September to approximately $230000 on September 16th, with a decrease in transaction volume from 13.1 million to 8.9 million and an average fee per transaction from $0.64 to $0.026. The 7-day average cost decreased by 82%, and the number of transactions decreased by 6%. As of the week ending September 16th, the trading volume of Robinhood ecosystem DEX was approximately $13 billion, up 5% month on month, while the supply of stablecoins decreased by 1% to approximately $1 billion. In the past 24 hours, on chain applications have collected approximately $8 million in fees and retained approximately $1.5 million in revenue. The trading volume of the token issuance platform Pons for the week was about 616 million US dollars, a decrease of 37% compared to the previous week, and the protocol revenue decreased from 10.7 million US dollars to 5.8 million US dollars.