The monthly active users
and assets under custody (AUC) at Robinhood, a major US commission-free stock
trading and investing application provider, returned flat last month, the firm
reported in its November 2022 operating data published on Wednesday.
In October, the monthly
active users (MAU) of the platform stood at 12.5 million users, the same as
in October. However, compared to the same period in November 2021, the platform’s
MAU has decreased by -33% from 18.6 million.
Furthermore, in terms of
user growth, the net cumulative funded accounts (NCFA) on Robinhood steadied at
23 million, an 0.4% increase from 22.9 million last month. On a year-on-year
(YoY) basis, this represents a tiny 1% growth.
In addition, the stock
trading and investing app’s AUC remain static at $70.2 billion in both months,
which represents a -35% decline from the $107.5 billion recorded in the same
period last year.
Check out the recent Finance Magnates London Summit 2022 session about trading in a digital world
Crypto Trading Growth
Despite these figures,
Robinhood recorded significant growth in its total crypto trading for
November. The volume improved from $3.5 billion in October to $5.7 billion last
month, representing a 60% increase.
This is a sharp turn
from its October performance when crypto trading volume collapsed
by -80%. However, compared to
the $14.9 billion generated in November 2021, its cryptocurrency trading volume for
last month also sank -62%.
Unlike cryptocurrency,
trading in equities on Robinhood fell by -4% from $46.7 billion in October to
$44.7 billion last month. This figure is a far cry from the $96.9 billion
posted in the same month last year, meaning that equity volume tanked by
-54%.
On the other hand,
trading in options contracts improved slightly by 4%, rising from 78.7 million
contracts two months ago to 81.8 million contracts in November. However, just
like the firm’s cryptocurrency and equities trading volumes, this figure
represents a sharp departure (28% decline) from the 113 million options
contracts traded in November 2021.
With the significant MoM
growth in the cryptocurrency trading volume on Robinhood, the daily average
revenue trades (DARTs) from cryptocurrency shot up by 40% to $0.3 million, down
by -37% from the $0.5 million generated during the same period in the prior
year.
Meanwhile, in early
November, Robinhood’s shares plunged
to a 2-week low in its steepest one-day
decline. The event was triggered by the
collapse of the once-beloved
cryptocurrency exchange FTX’s collapse.
The monthly active users
and assets under custody (AUC) at Robinhood, a major US commission-free stock
trading and investing application provider, returned flat last month, the firm
reported in its November 2022 operating data published on Wednesday.
In October, the monthly
active users (MAU) of the platform stood at 12.5 million users, the same as
in October. However, compared to the same period in November 2021, the platform’s
MAU has decreased by -33% from 18.6 million.
Furthermore, in terms of
user growth, the net cumulative funded accounts (NCFA) on Robinhood steadied at
23 million, an 0.4% increase from 22.9 million last month. On a year-on-year
(YoY) basis, this represents a tiny 1% growth.
In addition, the stock
trading and investing app’s AUC remain static at $70.2 billion in both months,
which represents a -35% decline from the $107.5 billion recorded in the same
period last year.
Check out the recent Finance Magnates London Summit 2022 session about trading in a digital world
Crypto Trading Growth
Despite these figures,
Robinhood recorded significant growth in its total crypto trading for
November. The volume improved from $3.5 billion in October to $5.7 billion last
month, representing a 60% increase.
This is a sharp turn
from its October performance when crypto trading volume collapsed
by -80%. However, compared to
the $14.9 billion generated in November 2021, its cryptocurrency trading volume for
last month also sank -62%.
Unlike cryptocurrency,
trading in equities on Robinhood fell by -4% from $46.7 billion in October to
$44.7 billion last month. This figure is a far cry from the $96.9 billion
posted in the same month last year, meaning that equity volume tanked by
-54%.
On the other hand,
trading in options contracts improved slightly by 4%, rising from 78.7 million
contracts two months ago to 81.8 million contracts in November. However, just
like the firm’s cryptocurrency and equities trading volumes, this figure
represents a sharp departure (28% decline) from the 113 million options
contracts traded in November 2021.
With the significant MoM
growth in the cryptocurrency trading volume on Robinhood, the daily average
revenue trades (DARTs) from cryptocurrency shot up by 40% to $0.3 million, down
by -37% from the $0.5 million generated during the same period in the prior
year.
Meanwhile, in early
November, Robinhood’s shares plunged
to a 2-week low in its steepest one-day
decline. The event was triggered by the
collapse of the once-beloved
cryptocurrency exchange FTX’s collapse.
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