Bitcoin (BTC) price explosion: Robinhood sees its trading volumes double

Bitcoin (BTC) price explosion: Robinhood sees its trading volumes double

After winter, crypto spring? – While Bitcoin (BTC) price has just passed through the 24,000 dollars, a glimmer of hope begins to break through in the dark year that 2022 will have been for cryptocurrencies. The low prices on the market have obviously attracted a lot traders/investors in January 2023 on robinhood (HOOD share), which saw its trading volumes almost doubled.

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A 95% jump in crypto trading volumes on Robinhood

This beginning of the year 2023 on the crypto-asset market is experiencing a increasingly sharp transition with the bear market gloom of 2022. At the time of this writing, the price of Bitcoin settles around the $24,500a magnificent recovery of +48.5% since 1er January (where BTC was trading towards $16,500).

This renewed interest in Bitcoin and cryptos has translated into the trading volumes, up sharply during the month of January. As pointed out by a report from the broker robinhoodpublished on February 15, the exchanges were really intense in January, compared to those of December 2022.

Robinhood’s digital asset trading volumes soared to $3.7 billion for the month of January 2023. An impressive increase of +95% of cryptocurrencies traded compared to the volumes of the previous month. For comparison, tradingactions companies also experienced a month-on-month upturn, but only +19%.

If business, in itself, is already going well for Robinhood, some other recent good news erase a bit more of the grim winter specter of 2022. Indeed, another way to get off to a good start is that Robinhood can repurchase the $575 million worth of HOOD stock from the ex-FTX boss, Sam Bankman-Fried. Are the bad memories going away for good for the crypto market?

Take advantage of the opportunities to buy low-cost cryptos that the market offers us! To not miss the opportunity of a lifetime, register quickly on the Binance platformSave 10% on your trading fees by following this link (trading link).

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