Robinhood reported Monday that crypto trading volume dropped 43% in May compared to April.
May's trading volume was 68% lower than in the same month last year, Robinhood said in a statement. It was down to $2.1 billion from $6.6 billion.
The declining crypto volume came even though trading in both equity and options contracts increased from April, with gains of 27% and 29%, respectively.
The platform reported 10.6 million monthly active users. That's down from 11.5 million in April and 14.6 million in May 2022.
Total assets under custody rose to $81.8 billion from $77.4 billion in April and $73.9 billion in the same month a year ago.
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