Bitstamp recorded a 21% rise in crypto trading volume to $14.4 billion in August, flipping Robinhood for the first time since it was acquired by the firm.
Less than three months after being acquired by Robinhood, crypto exchange Bitstamp has surpassed its parent platform’s crypto trading volumes, recording a 21% rise in August to $14.4 billion.
According to a company report from Robinhood on Thursday, Robinhood’s nominal crypto volumes fell 18% in August compared to July, reaching only $13.7 billion.
Data shows this volume had been trending down for Robinhood since November 2024, when it registered a record quarter, but ticked up in July before slumping in August.
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