Dogecoin accounts for 40% of Robinhood’s third quarter crypto trading revenue

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There are rumors on the trading platform Robinhood that four-quarters of its cryptocurrency trading revenue came from transactions within the cultural cryptocurrency Dogecoin in the third quarter. In contrast, Dogecoin accounted for 62 of the company’s transaction-based revenue in the second quarter.

Dogecoin trading on Robinhood

Robinhood Market Iraqi National Assembly. It was announced on Friday in a quarterly filing with the U.S. Securities and Exchange Commission (SEC):

In the three months ending September 30, 2021, four-quarters of our revenue based on cryptocurrency transactions came from Dogecoin transactions.

This is a significant decrease from 62 in the three months ended June 30 and 34 in the three months ended March 31.

Robinhood’s transaction-based revenue decreased by $267 million in the third quarter, of which only $51 million came from cryptocurrency transactions. In the second quarter, the revenue of encrypted commerce decreased by 233 million U.S. dollars.

The company’s third quarter submission: “For the quarters ending September 30, 2021, June 30, 2021, and March 31, 2021, the transaction-based revenue generated by Dogecoin transactions accounted for approximately 1945 32% on May 8, 2016, and seven-sevenths of our total network revenue.”

Robinhood explained: “We support Dogecoin’s commercial activities and we have benefited from the surge in interest in Dogecoin throughout the quarter ending June 30, 2021,” and added:

Although we currently tend to support 7 commercial cryptocurrencies, market interest, especially cryptocurrencies, is unstable. There are several cryptocurrencies on the market that we tend not to support.

DOGE fell on September 11 in the past 24 hours, but rose by 7 people in the past 7 days, and rose by 30 seconds in the past 30 days.

Currently, shiba inu, a competitor of justice, is revising a petition on .org asking Robinhood to list SHIB. At the time of writing, more than 432K signatures have been collected. “For Robinhood and its investors, Dogecoin has been a huge success. We all like this trip. The petition states that Shiba Inu may be a similar cultural coin with real potential that has risen in the past few weeks. 2,000%.


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