Wall Street expects slowdown in HOOD’s crypto business
Baiju Bhatti and Vlad Tenev attended Robinhood Markets IPO Listing Day, July 29th 2021 in New York City.
Cindy Ord. Getty Images| Getty Images
Robinhood’s cryptocurrency business is becoming increasingly critical to its top line. Wall Street has called for a decrease in trading volume from record levels set during the second quarter.
With bitcoin’s recent record-breaking performance and Robinhood’s brand new digital currency wallet, it is possible that the trading app will be able sustain a solid crypto business and generate higher revenues for the current quarter.