On the 7th (local time), Cointelegraph reported that Robinhood's second quarter financial report revealed that the platform's second quarter trading volume was 21.
The figure was $500 million (approximately 3.14 trillion yen), a 137% increase from the second quarter of last year but a 40% decrease from the first quarter of this year.
Robinhood said the decline in monthly active users was due to a drop in cryptocurrency prices during the second quarter.
A Robinhood spokesperson said, "When the cryptocurrency market is booming, our monthly active user participation metric spikes significantly, but when cryptocurrency markets tank, that number drops.
"As a result, Robinhood's total customer trading volume fell 27%, and average notional trading volume per trader fell 18%.
Nevertheless, Robinhood's $81 million in revenue from crypto trading was more than double what it made from stock trading in the second quarter.
Robinhood's largest source of revenue was options trading, which recorded $327 million in revenue.
Robinhood now manages $20.6 billion worth of crypto assets, up 1.2% from a year ago.
That's a 57% increase.
2024/08/08 14:24 KST
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