62% of the crypto revenue Robinhood recorded in Q2 of 2021 came from Dogecoin transactions, according to the quarterly figures recently announced by the broker. About 41% of the total revenue in Q2 for Robinhood came from crypto transactions and that means Dogecoin accounted for about 24.8% of the company’s total revenue.
Crypto in growth
These figures came out on August 18. The figures showed that the now publicly traded company earned a whopping $233 million in the second quarter from the transaction fees paid by users to trade in crypto. That’s $5 million more than was earned from these transactions in the entirety of 2020. So this shows that the focus on crypto is experiencing unprecedented growth.
Of course, it is not surprising that Dogecoin has been traded so frequently through Robinhood. Earlier this year, the coin was in the spotlight. Elon Musk was a big fan of the fact that a meme could create so much excitement in the crypto world and did much to help the price rise. His tweets caused several people to stop worrying about their finances for their entire lives. However, there are of course also many people who have lost fortunes to the currency.
Vlad Teev, the CEO of Robinhood, is proud of the numbers his company put up this quarter. He states, “We are happy and proud of the number of people who are experiencing their first experience with the financial system through Robinhood.
The company’s total revenue in the second quarter was $565 million. That’s an increase of 131% over the previous year. So it’s starting to look like Robinhood has played out the US market and it will only be a matter of time before the platform is available in Europe as well.
Where can you buy Dogecoin?
Are you interested in Dogecoin? You can use the exchanges below to buy Doge.
