Crypto Trading Slump Hits November Results
Tumbling crypto prices appear to have played a part in disappointing overall trading volume results for Robinhood (HOOD).
The brokerage app reported crypto volume of $28.6 billion in November, down 12% from October’s $32.5 billion. That amount was also down 19% from year-ago levels, when crypto was surging thanks to Donald Trump’s election victory.
Bitstamp, the crypto exchange Robinhood agreed to acquire earlier this year, also saw volumes fall 11%.
As for equity trading volumes, they struggled as well, dropping 37% month-over-month in November to $201.5 billion. They were, however, higher by 37% on a year-over-year basis.
Robinhood’s total platform assets declined by 5% in November to $325 billion.
The November slowdown raised concerns…
