<p>Robinhood's <a href="https://s28.q4cdn.com/948876185/files/doc_financials/2021/q2/fed1afc9-fc82-4a7a-8735-caed2497fbd3.pdf">second-quarter earnings</a> show crypto has become the driving force of growth in the investment app's revenue.</p> <p>Between Q2 2020 and Q2 2021, transaction-based revenues from cryptocurrency trading increased by a jaw-dropping 4,282%.</p> <p><a href="https://www.theblockcrypto.com/linked/114967/crypto-grows-from-2-to-41-of-robinhoods-total-revenue-in-past-year/robinhood-2" rel="attachment wp-att-114975"><img class="alignnone wp-image-114975" src="https://www.tbstat.com/wp/uploads/2021/08/Robinhood.png" alt="" width="588" height="250" /></a></p> <p>Total transaction-based revenue was $451 million, forming the bulk of the firm's $565 million revenue in Q2. Crypto transaction fees were, consequently, responsible for the lion's share of growth between 2020 and 2021. Robinhood's filing also notes that 62% of its cryptocurrency transaction-based revenue was attributable to Dogecoin trades.</p> <p><a href="https://www.theblockcrypto.com/linked/114967/crypto-grows-from-2-to-41-of-robinhoods-total-revenue-in-past-year/robinhood-3" rel="attachment wp-att-114980"><img class="alignnone wp-image-114980 size-full" src="https://www.tbstat.com/wp/uploads/2021/08/Robinhood-1.png" alt="" width="6370" height="2915" /></a></p> <p>That change has happened alongside a rise in user interest in crypto. "Robinhood’s customers demonstrated significant interest in cryptocurrencies, with over 60% of our net cumulative funded accounts trading in crypto during the second quarter," the firm said.</p> <p>As The Block previously <a href="https://www.theblockcrypto.com/post/110564/the-big-picture-takeaways-from-robinhoods-s-1-filing">noted</a>, the firm has grown more reliant on crypto while revenues from payment for order flow for stock trades have declined during the second quarter. </p>