Robinhood Reports Second Quarter 2021 Result
Crypto currencies are now the new frontier of investments. But who would have thought that they would outperform the good old stocks? As per Robinhood’s new report, the company’s larger percentage of new customers place their first trading crypto rather than equities.
Robinhood’s report Result
Robinhood, an American financial services company, recently released its earnings for the second quarter of 2021, and its report is rather interesting. The investment app reported that more than half of its total transaction based revenue came from crypto trading, which totaled 233 million dollars compared to just five million dollars for the same quarter last year. But what’s even more remarkable is that Dogecoin accounted for 62 percent of total cryptocurrency trading volume.
And now Dogecoin, which more than quadrupled in value in the second quarter, accounted for almost one third of Robinhood’s total transaction revenue. Robinhood even went as far as to include a specific risk in its prospectus and quarterly report tied to Dogecoin, noting that its business could be hurt if the markets for Dogecoin deteriorate or if the price of Dogecoin declines.
We can clearly tell from Robinhood’s report that people are really engaged in crypto, particularly Dogecoin. This surge in attention could not only help Dogecoin get greater recognition, but it could also boost its price to the point where experts predict Dogecoin could hit that one dollar very soon. And now let’s talk about Matt Wallace ( Final Stand) think about Dogecoin.
Matt Wallace covers everything under the moon when it comes to Dogecoin
Take, for instance, Matt Wallace. Wallace is as close as you can get to a Dogecoin expert on his YouTube channel, Final Stand. Wallace covers everything under the moon when it comes to Dogecoin. His channel has amassed nearly 250000 subscribers, and Wallace also has more than 200000 followers on Twitter, where he has also interacted with Tesla CEO Elon Musk was believes that Dogecoin has a higher chance of reaching that elusive one dollar mark.
The Dogecoin Foundation focus on supporting the Dogecoin ecosystem
The Dogecoin Foundation recently announced. It’s re-establishment with a renewed focus on supporting the Dogecoin ecosystem community and promoting the future of the Dogecoin blockchain. This time with some high profile board members, including Ethereum founder Vitalik Buterin and its new iteration, the group will include Dogecoin creator Billy Marcus as the community and Memes advisor and Jared Birchall, who is head of Elon Musk family office and will represent the billionaire Dogecoin advocate as a legal and financial advisor.
The organization is also responsible for defending the Dogecoin trademark to prevent abuse and fraud and establishing a roadmap and governance for the future of Dogecoin. This will mean that the foundation can continue to protect the Dogecoin brand and allow, under a very liberal license, the ability to use it for a Doge related Memes projects and fun.
Dogecoin price at a tight range of 31 cents to 33 cents. If Dogecoin continues to stay above the 31 cent level and a large amount of bullish volume comes in pushing the crypto over the 35 cent barrier, the bull flag will be confirmed.