Robinhood claims over 60% of transactions in Q2 were in crypto

Yesterday, Robinhood published a report for the second quarter of 2021. According to the data obtained, customers have demonstrated a significant interest in cryptocurrencies: more than 60% of accounts performed transactions with cryptographic assets.

The stats

The report also says that the customers engaged with crypto at “record levels” and “demonstrated significant interest in cryptocurrencies”. Revenue from transactions with digital assets in the second quarter of 2021 increased to $233 million (£170 million) compared to $5 million (£3,6 million) in the same period last year. In addition, from April to June, most of the new customers made their first transaction with cryptocurrency. Total net revenue increased by 131% to $565 million (£411 million) compared to $244 million (£177 million) in the second quarter of 2020.

Women invest in crypto more

Vlad Tenev, CEO and co-founder of Robinhood, added that the number of women has increased among investors. He also commented on the company’s goals. “So we’ll look to continue delivering great value improving our existing products and services, and expanding our existing businesses to really become the most trusted and most culturally relevant money app worldwide,” Tenev said.

Last month, the Robinhood app debuted on the NASDAQ exchange, valuing its shares at $38 apiece.

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I am sure that crypto assets are a new type of economy. We are at the origins of the crypto revolution. Right now, it is worth studying what cryptocurrencies and the blockchain are in order to make the most of this knowledge and these skills in the future.

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The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
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