Data: Robinhood's cryptocurrency trading volume in February fell by 29%, down to $14.4 billion

According to ChainCatcher news reported by CoinDesk, Robinhood (HOOD) saw a 29% month-over-month decline in cryptocurrency trading volume in February, dropping to $14.4 billion, a much larger decrease than the 1% drop in stock and options trading during the same period.

Despite this, the data still represents a 122% increase compared to the same period in 2023. This decline is in line with the overall pullback in the cryptocurrency market, with Bitcoin (BTC) falling about 15% in February, the CoinDesk 20 Index (CD20) dropping about 23%, and the overall spot trading volume decreasing 19% to $2.3 trillion.

Additionally, the trading enthusiasm for Memecoins has waned, with the daily token issuance on Pump.fun dropping from 62,000 to 24,000.