Robinhood cryptographic trade volumes (Hood) received a strong success in February, falling 29% since the previous month in a decrease directed by the retail merchant who could carry a message for other platforms, including Coinbase (COIN).
The month until the month falls to $ 14.4 billion exceeded by decreases in the trade of variable income and options, which each fell by 1%. Even so, the figure was more than double the most annual level, the company said in a press release.
The figure shows how trade decreased when the cryptocurrency market slid. Bitcoin (BTC) lost approximately 15% of its value last month and the largest Coendesk 20 (CD20) index fell by around 23%. Through centralized cryptocurrency exchanges, punctual trade fell 19% to $ 2.3 billion in February compared to January, according to Coindesk data.
Memecoin’s activity was also facilitated, with the launch of the token leader pump. Seeing the daily tokens launched at 24,000 of 62,000, according to 10x Research.
The deceleration in cryptocurrency trade volumes suggests less retail interest in space and could have implications for other exchanges, including Coinbase (Coin), which serves a similar audience.
Robinhood’s actions, a negotiation platform focused on retail trade that also offers shares, have fallen 4% this year. Coinbase, on the contrary, has fallen 15%, in line with the widest withdrawal of the cryptographic market.
However, Coinbase has been expanding its institutional services and its blockchain infrastructure business, which could help compensate part of the impact of a weaker retail trade. The company recently announced the introduction of Bitcoin and Ether 24/7
