Robinhood Markets, Inc. (NASDAQ: HOOD) reported strong growth in crypto trading volumes and assets under custody for November 2024, with significant year-over-year increases. The company saw a 700% increase in crypto trading volumes from the previous month and a 106% year-over-year growth in assets under custody, reaching $195 billion.
The total number of funded accounts increased by 420,000 from October and 1.5 million from the same month last year, totaling 24.8 million. Net deposits for November were $5.6 billion, with an annualized growth rate of 42% relative to October’s assets under custody. Over the past twelve months, net deposits accumulated to $47.4 billion, indicating a 50% annual growth rate compared to November 2023.
Crypto notional trading volumes soared to $35.2 billion, highlighting a significant growth trajectory for Robinhood in the digital asset space.
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