How crucial is the Robinhood factor to Shiba Inu’s price action
American financial services company Robinhood has already carved a niche for itself in the crypto-space. Since its formative years, the company has been extolled for pioneering commission-free trades of stocks, ETFs, and cryptos. By doing so, it managed to garner a lot of traction and in turn, was adopted by the masses.
Less than a day ago, Robinhood released its Q3 report. As per the same, transaction-based revenue totaled up to $267 million, with $51 million coming from cryptocurrency trading. For context, the revenue from crypto-trading totaled $233 million in the second quarter, with close to two-thirds of it coming from DOGE-related transactions. The aforementioned Q3 numbers, quite naturally, did not live up to analysts’ predictions.
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