Crypto Trading Platforms Suffer Second Quarter Revenue Decline
Crypto trading platform revenue declined across major players in Q2 2026, mirroring the third consecutive quarterly loss for the crypto market. According to TradingView, eToro reported a 30% year-over-year drop in cryptoasset revenue to $1.35 billion from $1.91 billion.
The cost of generating this revenue nearly matched it, leaving eToro with a net contribution of just $12.5 million for the quarter, down from about $29.3 million a year earlier. Robinhood's cryptocurrency transaction revenue also fell 38% to $100 million, while Coinbase reported total revenue of $1.2 billion, missing analyst consensus.
The declines coincided with a broader pullback in crypto trading, with the total market capitalization falling 12.6% quarter-over-quarter to $2.1 trillion. Spot trading volume on centralised exchanges dropped 27.9%, roughly twice the pace of the price decline.