Editor's PiCK
JP Morgan "Robinhood's Q1 Cryptocurrency Trading Revenue Expected to Decline"
Summary
- JP Morgan expects Robinhood's Q1 cryptocurrency trading revenue to decline compared to the previous quarter.
- Robinhood's Q1 cryptocurrency trading volume is expected to be around $52 billion, a decrease from the previous quarter's $71 billion.
- The rise in cryptocurrency trading has been offset by risk-averse sentiment.
On the 29th (local time), cryptocurrency-focused media outlet CoinDesk reported that Robinhood's (HOOD) Q1 cryptocurrency trading revenue is expected to decrease compared to the previous quarter.
JP Morgan stated, "Robinhood's Q1 cryptocurrency trading volume is expected to be around $52 billion," adding, "This is a decrease compared to the $71 billion recorded in Q4 of last year."
They further noted, "The early-year rise in cryptocurrency trading has been offset by the risk-averse sentiment that has spread in the market over the past few months."
Previously, Robinhood's Q4 cryptocurrency trading revenue last year increased by over 700% year-on-year, reaching $358 million.
Meanwhile, Robinhood's Q1 earnings will be announced after the market closes on the 30th (local time).
JH Kim
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