After its acquisition by Robinhood, Bitstamp has shown growth in trading volume, surpassing the parent platform. Here are the details of the changes in the market.
Growth in Bitstamp Trading Volumes
Bitstamp reported a 21% increase in trading volumes in August, reaching $14.4 billion, while Robinhood's volumes fell by 18% to $13.7 billion.
Market Challenges
Despite Bitstamp's success, combined trading volumes across both platforms dropped by 2.1% from the previous month. Experts link the slowdown to seasonal factors and market uncertainty, with little fluctuation in trading.
Robinhood's Strategic Expansions
Robinhood continues to grow, recently being included in the S&P 500, indicating increasing recognition. Furthermore, the launch of a tokenization blockchain for European users enhances its market position.
Bitstamp shows successful development and becomes an essential part of Robinhood's strategy, while both platforms face challenges in the cryptocurrency market.
