: Robinhood sees May crypto trading volume tumble 68% from a year ago

Robinhood Markets Inc. HOOD reported Monday that cryptocurrency notional trading volumes totaled $2.1 billion in May, down 43% from $3.7 billion in April and less than one-third (down 68%) from $6.6 billion in the same period a year ago. Shares of the trading app rose 0.4% in premarket trading. Meanwhile, trading volume for equities was $49.4 billion in May, up 27% from April but down 15% from last year, while trading volume in options was 97.5 million contracts in May, up 29% from April and 36% more than a year ago. The number of users totaled 23.1 million net cumulative funded accounts (NCFA) at the end of may, up 20,000 from April and 1% more than a year ago. The stock has rallied 15.6% year to date through Friday, while bitcoin BTCUSD has soared 56.3% and the S&P 500 SPX has advanced 12.0%.

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