Robinhood Crypto Trading Volume Grows by 61 Percent

Robinhood saw its crypto trading volume jump 61 percent during the month of August. Data shows that Bitstamp contributed $10.1 billion to this total volume. This growth signals a recent uptick in market interest for the platform.

Despite this monthly gain, overall activity is still trailing behind historical numbers. Total trading volume on the Robinhood app itself dropped 46 percent when compared to the same time last year. When looking at the full picture, total volume remains 38 percent lower than it was one year ago.

Traders are watching to see if this monthly increase marks the start of a recovery for retail activity. The gap between current volume and last year's figures highlights how quiet the market has been for the average investor over the past twelve months. Keeping an eye on these monthly trends will show if retail users are returning to the market in larger numbers.