Robinhood’s crypto trading volumes (Hood) took a lowering blow in February, plumping 29% compared to the previous month in a decline led by the retail trade which could transmit a message for other platforms, including Coinbase (Coin).
The drop in the month to 14 years to 14.4 billion dollars exceeded the decrease in stocks and negotiation options, which each dropped by 1%. Despite this, the figure was more than double the level of the year, the company said in a press release.
The figure shows how trading dropped when the cryptocurrency market has slipped. Bitcoin (BTC) lost around 15% of its value last month and the wider index of Coindesk 20 (CD20) dropped by around 23%. In the centralized cryptocurrency scholarships, the trading of points dropped from 19% to 2.3 billions of dollars in February compared to January, according to Coindesk data.
The samecoin’s activity was also released, with the Token token pump.
The slowdown in trading volumes of cryptocurrencies suggests a retail interest lower than space and could have implications for other exchanges, including Coinbase (corner), which is aimed at a similar audience.
Robinhood’s actions, a retail commercial platform that also offers shares, have dropped 4% this year. Coinbase, on the other hand, fell by 15%, in accordance with the wider retirement of the cryptography market.
Coinbase, however, expanded its institutional services and blockchain infrastructure activities, which could help compensate for part of the lower retail impact. The company recently announced the introduction of Bitcoin 24/7 Bitcoin and Ether Futures Trading.
