Robinhood Saw Crypto Trading Volumes Plummet
According to a Monday report from Robinhood, the volume of cryptocurrency trades fell 43% in May compared to April.
Compared to the same month last year, May’s trading volume was 68% lower, according to a statement from Robinhood. It decreased from $6.6 billion to $2.1 billion.
The amount of trading in cryptocurrencies decreased despite rises of 27% and 29%, respectively, in equities and options contracts from April.
10.6 million active users per month were reported by the platform. There were 11.5 million in April and 14.6 million in May 2022, respectively.
From $77.4 billion in April and $73.9 billion in the same month a year ago, the total assets under custody increased to $81.8 billion.
(With inputs from Shikha Singh)
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