eToro Sees Crypto Trading Volumes Plummet by 73% in Q2

eToro has released its Q2 financial report, showing a significant decline in trading volumes for its digital asset business.

The company's crypto assets were traded at a rate of 1.4 million transactions in July, a decrease of 73% compared to the same period last year.

In addition, the average investment amount per transaction fell by 50%, from $182 to $91.

eToro's total revenue from crypto assets declined to $134.6 billion, down from $191.5 billion in Q2 of last year.

Despite this decline, eToro's overall net profit increased by 77% to $53.48 million.