Robinhood saw crypto trading volumes plummet 43% in May

Companies • June 12, 2023, 11:25AM EDT
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Quick Take

  • Robinhood reported Monday that crypto trading volume plummeted 68% in May based on last year’s performance.
  • Crypto trading volume declined 43% since April.

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. 

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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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About Author

Nathan Crooks is the U.S managing editor at The Block, based in Miami. He was previously at Bloomberg News for 12 years, where he helmed coverage of South Florida after roles as a breaking news editor and bureau chief in Caracas, Venezuela. He's interviewed presidents, government ministers and CEOs, and, besides crypto, has covered major news events on the ground from earthquakes to hurricanes to the Chilean mine rescue in 2018. Nathan, a native of Clarion, Pennsylvania, holds a bachelor's degree from the University of Toronto, where he completed a specialist in political science, and an MBA from American University in Washington, D.C.

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