Robinhood Slumps Below $100 as Industrywide Crypto Rout Continues
Robinhood Markets (NASDAQ: HOOD) is trading below $100 after its crypto revenue declined by nearly 62% year-over-year in July 2026, a trend that's also affecting Swissquote, a digital banking group from Switzerland.
The decline is attributed to the sustained cooling of the frenzy that produced Bitcoin's October 2025 all-time high and subsequent decline to near $58,000 by late June 2026. The market conditions causing this decline include greater risk aversion among investors, geopolitical tensions, higher interest rates, and a stronger U.S. dollar.
Analysts are aware of the crypto revenue contraction and have modeled it in their estimates. However, the stock's current price reflects uncertainty about whether Robinhood will meet its full-year estimate of $586 million, which requires generating approximately $326 million more in Q3 and Q4 from its prediction market business.
The key event that could drive this revenue growth is the NFL season, scheduled to begin on September 9, 2026. If it generates strong volume, but not enough to close the gap created by the World Cup's unusual intensity, investors may be disappointed.