Robinhood: Cryptocurrency Trading Volume Up 143% Year-Over-Year in October

Robinhood Markets released its operating data for October 2024. As of October, the trading platform had a total of 24.4 million funded customers, an increase of about 90,000 from September and more than 1 million from the same period last year. The growth rate is 51% compared to October 2023. Trading activity has surged. Equity notional trading volume rose to $126.4 billion, up 48% from the previous month and a sharp increase of 149% year-on-year. Options trading also grew, with trading volume reaching 158 million contracts, up 16% from September and 64% from the same period last year. Meanwhile, cryptocurrency trading volume reached $5.6 billion, up 51% from the previous month and 143% from the same period last year. The report also stated that Robinhood achieved $19 million in revenue in securities lending, up 6% from September and 73% from the same period last year. In addition, Robinhood's third-quarter earnings report shows the strong interest of retail investors in cryptocurrency trading. (financefeeds)