This may indicate a turnaround in Robinhood’s business – the platform offers trading in stocks, currencies and cryptocurrencies, but the digital assets business has been steadily declining in recent months. For example, in the third quarter, there was a 55% decrease in income from cryptocurrency trading, to $23 million. In the second quarter, the figures also decreased.
However, the coming months may be positive for the company – management plans to enter the platform into the UK market, and then the entire European Union. The growth in the volume of trading in Bitcoin and other cryptocurrencies on Robinhood is facilitated by the general recovery of the digital asset market – rates have been rising since the beginning of November.
Let us recall that December started extremely positively for Bitcoin – the rate of the first cryptocurrency reached $42,000, which was the highest level over the past year.
Source: Bits
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