Robinhood Crypto Trading Volume Tumbles Amid Bear Market

Robinhood's cryptocurrency trading volume plummeted by more than 60% in July compared to the same month last year, according to recent data. The drop was even steeper when looking at the app's performance over the past 12 months, with a 74% decrease.

The bear market continues to take its toll on crypto trading activity, as evidenced by Robinhood's numbers. Despite the decline in cryptocurrency trading volume, other areas of the platform saw significant growth. Stock and options trading volumes rose by 59% and 66%, respectively, over the past year.

Total platform assets also increased, up 19% from July last year to $355 billion. The number of funded users on Robinhood's platform grew as well, reaching approximately 28.5 million at the end of July, a 1.77 million increase from the same time in 2022.