Robinhood crypto volume falls 48% in October as event contracts more than double
MARKETSBitstampcoinbrief/daily · 1 source
- Severity
- Low
- Sources
- 1
What happened
Robinhood said customers traded $17 billion of crypto in October, roughly half the amount from a year earlier. Over the same period, bets on event contracts, such as on elections and sports, more than doubled. The slowdown comes as bitcoin fell below $70,000 and investors pulled money out of bitcoin funds.
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What to do
- Watch Robinhood's November operating data to see whether crypto activity recovers after the sell-off below $70,000.
- Note that the October figures are unaudited and preliminary, as all of Robinhood's monthly updates are.
Written by AI from the sources, checked against them
Full story timeline · 1 update
Who reported · 1 outlet
Bitcoin Magazine