Swissquote Crypto Income Drops 61.5% in H1 2023
Swissquote's first half of 2023 crypto metrics showed significant declines across various key indicators. The firm reported net crypto assets income of CHF 7,484.9 thousand for the six months ended June 30, 2023, down from CHF 19,453.6 thousand in 2022, a drop of -61.5%. This decline was mirrored by crypto volume, which fell to CHF 1,242.5 million as at June 30, 2023, compared to CHF 3,265.9 million in the same period last year.
Transactions (units) also decreased to 2,308,116 units as of June 30, 2023, from 3,150,901 units in 2022, a decline of -26.7%. Despite these weaker crypto activities, net revenues for the six months ended June 30, 2023 were CHF 265,580.5 thousand, up from CHF 200,011.8 thousand in 2022, representing a growth of 32.8%.
The substantial decline in crypto metrics during H1 2023 was followed by a rebound in the subsequent period. This volatility is highlighted by Swissquote's own data, which shows that net crypto assets income bounced back substantially versus H1 2023, underscoring the swings in crypto-related activity across semesters.