Lower than three months after being acquired by Robinhood, crypto trade Bitstamp has surpassed its father or mother platform’s crypto buying and selling volumes, recording a 21% rise in August to $14.4 billion.
In accordance with an organization report from Robinhood on Thursday, Robinhood’s crypto nominal volumes fell 18% in August in comparison with July, reaching solely $13.7 billion.
Knowledge exhibits this quantity had been trending down for Robinhood since November 2024, when it registered a file quarter, however ticked up in July earlier than slumping in August.
Key buying and selling quantity figures for Robinhood over the past 12 months. Supply: Robinhood
Robinhood accomplished its $200 million acquisition of Bitstamp on June 2, including over 5,000 institutional shoppers and 50,000 retail prospects to Robinhood’s whole base.
The crypto trade is ready to play a pivotal position within the firm’s ambitions within the real-world asset tokenization market.
Bitstamp, now formally referred to as Bitstamp by Robinhood, is linked to Robinhood Legend and its Good Change Routing providing, making buying and selling between the 2 platforms simpler.
Whereas mixed crypto buying and selling volumes between Bitstamp and Robinhood fell 2.1% in comparison with the earlier month, Robinhood’s whole belongings rose 2% over the month to $304 billion, with round $41 million in crypto.
Crypto market ended flat in August
The broader crypto market skilled solely a minor rise in buying and selling volumes in August, with costs ending the month roughly the place they started.
Requested why crypto buying and selling on Robinhood could have stalled, Ryan McMillin, CEO of Australian crypto fund administration agency Merkle Tree Capital, pointed to seasonality, noting that as a North America–primarily based platform, buying and selling may have been affected by the summer time vacation interval.
Trying extra broadly, McMillin mentioned crypto market sentiment has been “comparatively quiet” currently because it awaits key macro indicators, significantly whether or not the latest weakening jobs and inflation knowledge justifies a charge minimize, and if that’s the case, to what extent.
“Trump has been pushing for decrease charges whereas Jerome Powell has dug his heels in, now that appears to have modified.”
He and CK Zheng, a founder and chief funding officer of ZX Squared Capital, nonetheless, see an increase in total buying and selling quantity quickly as they count on crypto to hit file new highs earlier than the top of the 12 months.
Zheng additionally isn’t satisfied that the fourth quarter will mark the height of the present market cycle primarily based on the four-year crypto cycle thesis, pointing to stronger institutional adoption with the crypto exchange-traded funds and crypto treasury corporations.
Robinhood now within the S&P 500
In the meantime, Robinhood debuted on the Normal & Poor’s 500 this week, bringing one other crypto-active firm to America’s most tracked inventory index.
Associated: ARK Make investments buys dip: purchases $21M Bullish, $16M Robinhood shares
“This motion expands the index’s publicity and connection to the digital asset economic system,” Edwin Mata, CEO of tokenization platform Brickken, mentioned in feedback to Cointelegraph on Tuesday as HOOD shares rallied over 16% on the day.
Robinhood’s inclusion got here as Michael Saylor’s Technique was snubbed.
Robinhood launched its personal layer 2
Across the begin of July, Robinhood launched a tokenization-focused layer 2 blockchain for its buyer base within the European Union, giving them entry to US shares.
It additionally launched perpetual futures within the EU, giving eligible merchants entry to derivatives with as much as 3 times leverage. The trades will probably be routed by means of Bitstamp, the crypto trade that it not too long ago acquired for $200 million.
Journal: Can Robinhood or Kraken’s tokenized shares ever be really decentralized?
