Robinhood's crypto trading volume surged 61% month-over-month in August, while prediction market contracts exploded 15-fold in a year.

BlockBeats news, September 12 — Robinhood's August operating data showed that the platform's notional cryptocurrency trading volume rose to $17.5 billion, up 61% month-over-month, but still down 38% year-over-year. Of that, Robinhood App trading volume was $7.4 billion, up 72% month-over-month; Bitstamp trading volume was $10.1 billion, up 53% month-over-month.

Compared with crypto trading, prediction markets grew even faster for Robinhood. In August, event contract trading volume reached 4.7 billion contracts, down 23% month-over-month but up about 15x year-over-year. Robinhood had previously made event contracts a key growth business, with related revenue in the second quarter of this year increasing more than 10x year-over-year and surpassing crypto trading to become an important source of trading revenue.

As of the end of August, Robinhood's total platform assets reached $384 billion, up 26% year-over-year, with 28.6 million funded customers; margin financing balances were $21.5 billion, up 72% year-over-year. In addition, on-chain trading activity on Robinhood Chain also continued to grow.

Robinhood is currently further expanding from a traditional stock and crypto trading platform into a comprehensive financial platform covering crypto assets, prediction markets, and on-chain trading.