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Robinhood Chain generated about $51 million in network revenue in its first quarter of operations, surpassing Ethereum’s $41 million, BeInCrypto reported. Ethereum’s revenue fell 35% from the previous quarter.
Over the same period, total revenue across major blockchain networks rose 24% from the previous quarter to about $349 million, marking the first rebound in five quarters, according to BeInCrypto. The increase was driven by Solana’s recovery and the launch of Robinhood Chain, although overall revenue was still down 47% from a year earlier.