Robinhood (hood) crypto trading fell 29% while February price slide distanced retail investors
Robinhood’s (Hood) Crypto Trading Volume took a steep hit in February, which dropped 29% from last month to a downfall led by retail that could bring a message for other platforms including Coinbase (Coin).
The month-to-month collapse of $ 14.4 billion has passed a decline in equality and trading options, each of which fell 1%. Although, the figure is more than double the level of the year-new before, the company said in a Press release.
The figure shows how the trade drops as the cryptocurrency market slides down. Bitcoin (Btc) Lost about 15% of its value last month and the wider coindesk 20 index (CD20) fell around 23%. Throughout the centralized cryptocurrency exchange, 19% to $ 2.3 trillion in February compared to January, CoinDesk data Shut up.
Memecoin’s activity has also been lifted, with the leading token launchpad pump.fun that sees the sun -to -day token launches a plunge to 24,000 out of 62,000, according to 10x research.
Slowing the cryptocurrency trade volume suggests a lower retail interest in space and may have implications for other exchanges including Coinbase (coin), which corresponds to a similar audience.
Robinhood shares, a retail-focused trading platform that also offers equally, dropped 4% this year. Coinbase, in contrast, fell 15%, in accordance with the broader backdrop of the crypto market.
The Coinbase is, however, expanded the institutional and blockchain infrastructure services, which will help offset some of the effects from weaker retail trade. The company recently The introduction was revealed of 24/7 bitcoin and ether futures trading.
