Analysts warn of 'acute' Q3 slowdown in Robinhood's DOGE-reliant growth
Wolfe Research has told investors to consider the "outsized contribution" Dogecoin trading has made to Robinhood's recent growth. Robinhood’s recent disclosure of the major boost that crypto has contributed to its second-quarter financial earnings is worrying some financial analysts, largely due to the “outsized” role that Dogecoin (DOGE) trading has played.In an investor note this week, Wolfe Research’s Steven Cubak warned that “Robinhood’s growth within crypto is nothing short of remarkable, but the outsized contribution from Dogecoin simply cannot be ignored.”As reported, Robinhood’s Q2....
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Robinhood, the app that popularized free one-click stock and crypto trading, revealed on Tuesday that it would lay off roughly 340 full-time employees, or around 9% of the 3,800 workforce. The move, according to Robinhood CEO Vlad Tenev, is in response to a decline in active users following a period of rapid growth early in […]
With a 181.5% increase in the 24-hour chart, Dogecoin (DOGE) is breaking every resistance towards a new all-time high. On the other hand, Litecoin is showing strong momentum and, according to a trader, it could follow DOGE’s performance. Investing App Robinhood offers its users the possibility to trade with 6 cryptocurrencies: DOGE, Bitcoin, Ethereum Classic, […]
Three Arrows Capital CEO Su Zhu is bullish on Dogecoin because it's easy to understand and captures the attention of “blue-collar traders.” Three Arrows Capital CEO Su Zhu has outlined a bullish thesis for Elon Musk’s favorite cryptocurrency, Dogecoin (DOGE). Speaking on an Aug. 25 episode of “The Game Theory of Crypto Podcast”, Zhu stated that he’s ke on DOGE because the meme coin has captured more interest from “blue-collar” traders than any other crypto on the market.During the interview, Zhu pointed towards data from popular retail trading app Robinhood, which posted its second-quarter....
As the price of DOGE surged eight-fold within a day, the volume of Dogecoin surpassed Bitcoin's on Binance. Dogecoin (DOGE) briefly surpassed Bitcoin (BTC) in daily volume on Binance at over $5 billion on Jan. 29. This is a first for Dogecoin, and it happened as the price of DOGE surged around eight-fold overnight from $0.012 to over $0.08.DOGE/USDT 15-minute price chart (Binance). Source: TradingView.comWhat was behind the craze around DOGE?The meteoric rally of DOGE was fueled by posts and tweets from WallStreetBets traders on Twitter and Reddit. In fact, the tweet volume also soared to....
Experts say DOGE traders rotating profits into Robinhood-listed altcoins could be behind the rally in LTC, BCH and ETC. Every cryptocurrency bull market has at least one surprise catalyst that comes out of nowhere to excite traders and spark massive trading volumes that lift the total market capitalization to new highs. The 2021 bull market is no exception to this rule, and one of the biggest catalysts for growth this year has been the explosive popularity of Dogecoin (DOGE), which has made headlines in traditional and alternative financial circles as its price surge to new all-time highs....