Robinhood's higher crypto revenue will be positive for Coinbase's revenue!

Robinhood (HOOD) is a popular trading platform. It is a member of the Securities Investor Protection Corporation (SIPC). It is even regulated by the SEC. Recently this popular trading platform said in a statement that its crypto revenue has increased compared to last year and they also reported that their fourth quarter revenue increased by 10% compared to last year. Because it is popular and regulated by the US Securities and Exchange Commission, it has many users trading in digital currency, which has resulted in their income reaching $43 million.

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Their revenue in this case could be good for crypto trading platform Peer Coinbase (COIN). This is because trading volume is one of the major contributors to revenue. But we know that when a platform has many users and there is a lot of trading or transaction or exchange then that platform is profitable. Notional volume has increased by 89% compared to the previous quarter as more users are currently involved in crypto trading on this platform.

High volume is no surprise on this popular platform. Spot bitcoin exchange-traded funds (ETFs) are the reason behind the rise in prices in the digital asset market. which was approved in the United States last month. As a result, the trading volume on their platform has increased and consequently the transaction-based revenue on this popular platform has increased compared to the previous year. Mainly driven by crypto trading. On the other hand, another popular platform, Coinbase, has been reporting their earnings for the past few days. They can also see similar results for trading volume there. But the important thing is that the COIN share price rose slightly in the market trading yesterday.

Robinhood hopes to add more users this year as well and gain more crypto trading market share. And if that happens, their platform will expand internationally. However, recently this popular platform has started allowing European Union customers to trade crypto on its platform. But last year has been a good year for this popular platform. Because last year the speed of products on this platform has increased as well as their trading market share has increased. This makes it much easier to expand globally. And also they are very hopeful that they have a good start this year and that people they have already started working. But this platform is slowly starting to improve and along with that their revenue is slowly increasing.