The trading app Robinhood confirmed that 9.5 million customers traded crypto on their platform in the first quarter of 2021. This represents a big increase from the data provided last year where only 1.7 million traded crypto on the platform.
These numbers shouldn’t really come as a surprise as it only really represents the growing popularity of crypto and the mainstream attention it has been getting. This year many institutions have started to embrace crypto while the prices of several altcoins have also gone through the roof.
Earlier in the year, Robinhood halted the trading of crypto temporarily after the controversial move by Reddit users to pump certain stocks which then lead to some altcoins being pumped also, most notably Elon Musk‘s favorite Dogecoin. Despite this, the company is now speaking positively about cryptocurrency and released this statement.
“The prospect of an open and decentralized global financial system, one where everyone can have access to financial services, strongly aligned with Robinhood’s mission–so democratizing cryptocurrency trading felt like a natural next step,”