The number of users of the Robinhood mobile app for trading cryptocurrencies increased by 6 million in the first two months of this year.
First-time buyer? Long-term #HODLer? 🚀 This year, six million of you used Robinhood Crypto for the first time to buy and sell #crypto. We fully intend to provide the ability to deposit and withdraw cryptocurrencies.💥 Learn more: https://t.co/8VQhKtWB32 pic.twitter.com/rwsVdlNIg3
— Robinhood (@RobinhoodApp) February 25, 2021
For comparison, the average monthly growth rate of Robinhood Crypto audience in 2020 was 200 thousand users, in July they were twice as high.
Data: Robinhood.
The size of customer transactions during this period ranged from $ 200 to $ 750, averaging $ 500.
Data: Robinhood.
Launched three years ago, the app supports trading Bitcoin, Bitcoin Cash, Bitcoin SV, Dogecoin, Ethereum, Ethereum Classic, and Litecoin.
Elliptic suggested that Robinhood could own a wallet where 28% of the Dogecoin cryptocurrency emission is concentrated.
Prior to that, Elon Musk called the problem “too much concentration” of coins and offered to pay the Dogecoin whales if they cancel accounts.
In late January, Robinhood was accused of conspiring with hedge fund Melvin Capital and market maker Citadel after suspending trading on several assets amid a pump of GameStop shares.
At a hearing in the US Congress, the platform’s co-founder Vlad Tenev denied this.
At the end of 2020, Robinhood agreed to pay $ 65 million to settle claims from the regulator.
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