Robinhood Chain Surpasses Ethereum in Revenue: $51 Million vs $41 Million in Q3

In the third quarter of 2026, Robinhood Chain generated approximately $51 million in revenue, according to data from ARK Invest. Ethereum, during the same period, reached about $41 million.

Key Points

• Ethereum's network revenue fell by about 35% compared to the second quarter of 2026.
• At launch, Robinhood Chain ranked fourth in trading volumes on decentralized exchanges.
• Ethereum retains the highest share of value in tokenized real assets.

Robinhood Chain's Q3 Revenue Exceeds Ethereum's

Robinhood Chain has outperformed Ethereum in revenue: approximately $51 million compared to around $41 million. ARK's figures also show that Ethereum has lost about 35% compared to the second quarter.

The comparison has an interesting twist. Robinhood Chain settles its transactions on Ethereum, which continues to earn a portion of the fees generated.

Robinhood launched its public mainnet on July 1, 2026, following the testnet launch in February. The network is a layer-2 solution for Ethereum built using Arbitrum technology and uses ETH as the token for gas fees.

Growing Revenue, but Trading Moves House

The revenues of the networks analyzed by ARK rose by about 24% compared to the second quarter, reaching approximately $349 million. However, they remain 47% lower than a year earlier.

ARK mentions the first quarterly increase in five quarters, attributing it to the recovery of Solana and the launch of Robinhood Chain.

For more established platforms, the picture is different. The trading volume on Ethereum's decentralized exchanges (DEX) fell by about 27% compared to the second quarter of 2026, while Base's volume dropped by about 17%. According to ARK, trading activity has shifted towards newer venues, including Robinhood Chain.

In its debut quarter, the network handled approximately $65 billion in DEX volumes, ranking fourth among the networks in ARK's data. Tokenized stocks account for about $13.7 billion of that total. Only BNB Chain performed better, with around $16.5 billion.

Ethereum Defends Its Lead in Tokenization

Ethereum remains the network with the highest value of tokenized real assets on public blockchains: approximately $16.7 billion, although it is losing market share.

Its share has decreased from about 50% at the end of June to 44%. Therefore, Ethereum leads this ranking despite closing the quarter with declining revenues and DEX volumes.

Fees, Gas, and Upcoming Financials

ARK expects that a gas adjustment on Robinhood Chain will eliminate high fees related to congestion. The network has raised gas fees, changing the conditions on fees based on the results of the debut quarter.

Coinbase communications show how network fees enter corporate financials. In July, the company explained that it records the fees from Base's sequencer under other transaction revenue.

This broader category, not just Base's revenues, has decreased by about 11% quarter-over-quarter, to $47.4 million. CFO Alesia Haas attributed the decline to weaker activity in instant transfers, along with Base's revenues.

In its SEC filing for the second quarter, Robinhood linked the performance of the chain to usage. Its third-quarter results are scheduled for October 27, 2026, covering the first full quarter of public operations for Robinhood Chain.