Robinhood’s July Crypto Trading Volume Tumbles 62% as Bear Market Drags On
Summary
- Robinhood’s cryptocurrency trading volume last month plunged 62% from a year earlier as the crypto bear market continued.
- Cryptocurrency trading volume on the Robinhood app fell 74% from a year earlier and 33% from the previous month.
- Stock trading volume, options volume, total platform assets and the number of users all increased from a year earlier.
Forecast Trend Report by Period
Robinhood’s cryptocurrency trading volume sank more than 60% in July from a year earlier as the crypto bear market weighed on activity.
BlockBeats reported on Aug. 13 that Robinhood’s crypto trading volume totaled about $10.9 billion last month, down 62% from a year earlier.
Crypto trading volume on the Robinhood app dropped 74% from the same month last year. It also fell 33% from June.
By contrast, stock and derivatives trading increased. Stock trading volume rose 59% from a year earlier to $333 billion. Options volume climbed 66% to about 324 million contracts.
The number of funded users on Robinhood’s platform stood at about 28.5 million at the end of last month, up 1.77 million from a year earlier. Total platform assets increased 19% from a year earlier to $355 billion.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul