There was a 75% increase in digital currency trades on the Robinhood platform during the month of November, according to a filing with the Securities and Exchange Commission (SEC).
This increase was driven by a surge in investor activity, as Bitcoin and other cryptocurrencies saw a rise in value.
The growth in trading volume is a positive sign for the company, which has been struggling with revenue losses in recent months due to low activity among digital asset holders.
In the second quarter, Robinhood’s trading volume fell by 55%, and in the third quarter, the value of transactions in virtual currencies dropped by 18%.
Currently, Robinhood ranks third in terms of the amount of bitcoins held behind Binance and Bitfinex.
