Robinhood And Dogecoin Development
I’ve done a lot of understanding to try to really understand the relationship between Robinhood and Dogecoin community. Robinhood could play a key factor in the longevity and the mainstream adoption of Dogecoin and be a key contributor of Dogecoin’s success moving forward.
If they handle this the right way, because we know that Dogecoin has been a feature on Robinhood, it has been a gateway for so many people that are used to the institution way. That has been a key thing and that’s brought so many people into cryptocurrency, but more importantly, so many people into Dogecoin.
Robinhood is a Dogecoin gateway
Robinhood is a Dogecoin gateway, says Jim Cramer after DOGE accounted for most of the firm’s revenue. On CNBC’s Squawk Box, Jim Cramer revealed he was surprised to see that the meme inspired cryptocurrency DOGE, representing the most revenue commission free trading platform Robinhood saw in the second quarter of the year. The company’s quarterly revenue was 65 million, representing an increase of 131 percent year over year.
Robinhood revealed and expects seasonal headwinds and lower trading activity across industry result in lower revenues and considerably fewer new funded accounts, as Benzinga. When you peel back the onion, Robinhood seems like it’s a Dogecoin gateway.
Dogecoin’s popularity soars on Robinhood
Popular stock trading app Robinhood sees crypto trading on its platform reach record levels in the second quarter. With crypto accounting for more than half of all transaction-based revenues. Moreover, the meme cryptocurrency Dogecoin made up 62% of the crypto trading volume in Q2.
Robinhood will allow users to create recurring investments in cryptocurrencies like Bitcoin, Ethereum, Dogecoin and Litecoin. This is going to help people understand how to dollar cost average and get them aware of cryptocurrency and continue to accumulate and the ups and the downs. Robinhood on Twitter puts out this every week they talk about what happened to cryptocurrency. The CEO last night tweeted,
He knows that the entire crypto community is waiting for the crypto wallets on Robinhood. And for him to say is, I believe the time has come, and I believe we’re going to get a massive development in this short time. They have been a gateway for so many people to come into crypto, community experience and cryptocurrency getting involved in cryptocurrency because they do have a super user friendly interface that does allow you to buy super easily.
I believe if Robinhood positions himself well with Dogecoin community and does some more big things for Dogecoin. This would be an opportunity for not only Robinhood, but the Dogecoin community to continue to be mainstream adopted because we see that revenue based Robinhood needs Dogecoin, right?