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Home»ADOPTION NEWS»Robinhood said cryptocurrency trading surged 75% in November compared to the previous month.
ADOPTION NEWS

Robinhood said cryptocurrency trading surged 75% in November compared to the previous month.

By Crypto FlexsDecember 4, 20232 Mins Read
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Robinhood said cryptocurrency trading surged 75% in November compared to the previous month.
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Posted 1 minute ago In ~

Robinhood said in a filing with the Securities and Exchange Commission on Monday that cryptocurrency trading on its platform has surged over the past month amid continued gains.

“November cryptocurrency notional volume was approximately 75% higher than October 2023 levels,” the 8-K update wrote, adding that it would release full operational data for the month in the coming weeks.

The news could mark a turnaround for the company, which has seen revenue from cryptocurrency trading decline recently. In the third quarter, cryptocurrency trading-based revenue fell 55% to $23 million. A decline was also seen in the second quarter.

The company said last month that it plans to begin offering cryptocurrency trading in the EU following its UK launch.

Bitcoin’s surge

bitcoin BTC

+5.03%
The price of the spot Bitcoin ETF has surged 20.6% over the past month amid optimism that a spot Bitcoin ETF could soon receive SEC approval. It has increased by 145% over the past year.

The world’s largest cryptocurrency by market capitalization rose 5.4% to $42,006 at 5:08 PM ET on Monday.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Nathan Crooks is the US editor-in-chief of The Block, based in Miami. He previously worked at Bloomberg News for 12 years, serving as breaking news editor and bureau chief in Caracas, Venezuela, before leading coverage of South Florida. He has interviewed presidents, government ministers, and CEOs, and in addition to cryptocurrencies, he has covered major news events in the field ranging from earthquakes, hurricanes, and the 2018 Chilean mine rescue. A native of Clarion, Pennsylvania, Nathan earned his bachelor’s degree from the university. He earned a specialist degree in political science from Toronto and an MBA from American University in Washington, DC.

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