September 19, 2021

62% of Robinhood's crypto profits come from Dogecoin

62% of Robinhood's crypto profits come from Dogecoin

In the second quarter, about 41% of Robinhood's total profits came from cryptocurrency trading.

According to financial report for the 2nd quarter publishedOn August 18, the company raised $ 233 million in crypto trading services. For comparison, for the entire 2020 Robinhood earned only $ 5 million from cryptocurrencies.

In the second quarter, more than 60% of all active Robinhood accounts bought and / or sold digital assets.

62% of the $ 233 million in profit came from Dogecoin traders.

In total, the company earned $ 565 million in the second quarter, an increase of 131% over the same period in 2020. The total assets under the control of Robinhood are $ 102 billion.

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According to the materials cointelegraph.com