The interest from rising prices over the past year and with it the rapidly increasing popularity of crypto should already be evident. The data published by various trading platforms underscore these developments. yesterday published eToro’s results for the second quarter of this year, including bitcoin (btc), Ethereum (ETH) Feather Cardano (ADA) a big role.
Trading platforms mainly earn from the transaction cost that the user pays when he buys or sells crypto. eToro is a well-known platform that allows users to trade commodities and stocks other than crypto. Overall, it generated $362 million in revenue from commissions in the second quarter of 2021. This includes crypto, stocks, commodities and other trading products that can be traded on eToro.
Surprisingly, during the last quarter, crypto accounted for a substantial portion of total revenue. $264.26 million in huge earnings from crypto Business, Which is 73% of the total. Relative to Q2 2020, this shows an increase of 2.259% in crypto commissions. At that time, the income from crypto transactions was only 7% of the total. At that time, raw materials and securities still accounted for 45% and 41% of the total, respectively.
The platform reports that five cryptocurrencies generated the lion’s share of the crypto commission:
“Due to strong retail investor interest in the cryptocurrency markets, crypto assets received total commissions in the second quarter of 2021. Interest in cryptos offered by eToro spread across BTC, XRP, ETH, ADA and DOGE with the highest trading volumes. Was”
This is an image we see on many other platforms as well. Robinhood also made most of its income from crypto. However, there the picture was even more shocking. In the second quarter, Robinhood was significantly dependent on Dogecoin (DOGE), which accounted for 62% of crypto trading. You can read more in this article Regarding Robinhood’s performance in the second quarter of 2021.
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