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Robinhood Crypto Trading Volume Rallies 61% in August

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Source: Shutterstock, Decrypt.

Robinhood's notional crypto trading volume—the total dollar value of all crypto assets bought and sold on the platform—rose 61% in August to $17.5 billion, according to operating data the company released Thursday.

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Summary

Robinhood's crypto trading volume rose 61% month over month to $17.5 billion in August, according to new operating data. Event contracts, Robinhood's prediction market bets, traded 4.7 billion times in August, roughly 15 times the volume from a year earlier, even as Congress moves to rein in the products. The rebound followed a slow July, when volume sat at $10.9 billion. The Robinhood app handled $7.4 billion of that volume, up 72% from July but down 46% from a year ago.

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