{"id":13777,"date":"2021-10-30T23:54:09","date_gmt":"2021-10-30T23:54:09","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/dogecoin-accounts-for-40-of-robinhoods-crypto-transaction-revenue-in-q3\/"},"modified":"2021-10-30T23:54:09","modified_gmt":"2021-10-30T23:54:09","slug":"dogecoin-accounts-for-40-of-robinhoods-crypto-transaction-revenue-in-q3","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/dogecoin-accounts-for-40-of-robinhoods-crypto-transaction-revenue-in-q3\/","title":{"rendered":"Dogecoin Accounts for 40% of Robinhood\u2019s Crypto Transaction Revenue in Q3"},"content":{"rendered":"

Trading platform Robinhood has reported that 40% of its cryptocurrency transaction-based revenue was attributable to transactions in the meme cryptocurrency dogecoin in the third quarter. By comparison, dogecoin accounted for 62% of the company\u2019s transaction-based revenue in the second quarter.<\/strong><\/p>\n

Dogecoin Trading on Robinhood<\/h2>\n

Robinhood Markets Inc. stated in its quarterly filing with the U.S. Securities and Exchange Commission (SEC) Friday:<\/p>\n

For the three months ended September 30, 2021, 40% of our cryptocurrency transaction-based revenue was attributable to transactions in dogecoin.<\/p>\n

This was a significant decrease from 62% for the three months ended June 30, and 34% for the three months ended March 31.<\/p>\n

Robinhood\u2019s third-quarter transaction-based revenue totaled $267 million, with only $51 million coming from cryptocurrency trading. Revenue from crypto trading totaled $233 million in the second quarter.<\/p>\n

The company\u2019s Q3 filing further notes: \u201cFor the quarters ended September 30, 2021, June 30, 2021, and March 31, 2021, transaction-based revenue attributable to transactions in dogecoin comprised approximately 8%, 32%, and 7% of our total net revenues, respectively.\u201d<\/p>\n

Robinhood explained, \u201cWe support trading in dogecoin and we benefited from a surge in interest for dogecoin during the quarter ended June 30, 2021,\u201d adding:<\/p>\n

While we currently support seven cryptocurrencies for trading, market interest in particular cryptocurrencies can be volatile and there are many cryptocurrencies in the market that we do not support.<\/p>\n

DOGE was down about 9% in the past 24 hours, but up 7% in the last seven days and 32% in the last 30 days.<\/p>\n

Currently, supporters of DOGE rival shiba inu are petitioning<\/a> on Change.org for Robinhood to list SHIB. At the time of writing, more than 432K signatures have been collected. \u201cDogecoin has been a huge success for Robinhood, and its investors. We have all enjoyed the ride. Shiba Inu is a similar meme coin with genuine potential, up 2,000% in the last weeks,\u201d the petition states.<\/p>\n

What do you think about dogecoin accounting for 40% of Robinhood\u2019s transaction-based revenue? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nAltcoins, Robinhood, robinhood doge, robinhood dogecoin, robinhood shib, robinhood shiba inu<\/p>\n","protected":false},"excerpt":{"rendered":"

Trading platform Robinhood has reported that 40% of its cryptocurrency transaction-based revenue was attributable to transactions in the meme cryptocurrency dogecoin in the third quarter. By comparison, dogecoin accounted for 62% of the company\u2019s transaction-based revenue in the second quarter. Dogecoin Trading on Robinhood Robinhood Markets Inc. stated in its quarterly filing with the U.S.…<\/p>\n","protected":false},"author":0,"featured_media":13778,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-13777","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13777"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=13777"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13777\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/13778"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=13777"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=13777"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=13777"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}