Dogecoin accounts for 40% of Robinhood's crypto transaction turnover in the third quarter-altcoins
Dogecoin accounts for 40% of Robinhood's crypto transaction turnover in the third quarter-altcoins
The Robinhood trading platform has reported that 40 % of its revenues based on cryptocurrencies were due to transactions in the meme cryptocurrency of Dogecoin in the third quarter. For comparison: Dogecoin made 62 % of the company's transaction -based sales in the second quarter.
Dogecoin trade on Robinhood
Robinhood Markets Inc. said in his quarterly submission to the US Securities and Exchange Commission (SEC) on Friday:
In the three months of September 30, 2021, 40 % of our transaction -based sales were available on cryptocurrencies on transactions in Dogecoin.
This was a significant decline of 62 % in the three months on June 30th and 34 % in the three months on March 31.
The transaction-based sales of Robinhood in the third quarter was $ 267 million, with only $ 51 million from the trade in cryptocurrencies. The turnover from crypto trading was $ 233 million in the second quarter.
In the company's Q3 registration, it continues: “For the quarters on September 30, 2021, June 30, 2021 and March 31, 2021, the transaction-based income, which is due to transactions with Dogecoin, made about 8 %, 32 % and 7 % of our total net sales or.
Robinhood said: "We support the trade with Dogecoin and benefited from an increased interest in Dogecoin in the quarter on June 30, 2021," added:
Although we are currently supporting seven cryptocurrencies for trade, market interest in certain cryptocurrencies can be volatile and there are many cryptocurrencies on the market that we do not support.
Doge has dropped by about 9 % in the last 24 hours, but has increased by 7 % in the past seven days and 32 % in the last 30 days.
Currently there are supporters of the Doge-Rival Shiba inu petition Robinhood to list Shib. At the time of the writing, more than 432k signatures were collected. "Dogecoin was a great success for Robinhood and his investors. We all enjoyed the trip. Shiba Inu has a similar meme coin with real potential, increased by 2,000 % in the past few weeks," says the petition.
What do you think that Dogecoin is 40 % of the transaction -based sales of Robinhood? Let us know in the comment area below.
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