Robinhood sees May crypto trading volume tumble 68% from a year ago

Robinhood Markets Inc.
HOOD,
-0.69%
reported Monday that cryptocurrency notional trading volumes totaled $2.1 billion in May, down 43% from $3.7 billion in April and less than one-third (down 68%) from $6.6 billion in the same period a year ago. Shares of the trading app rose 0.4% in premarket trading. Meanwhile, trading volume for equities was $49.4 billion in May, up 27% from April but down 15% from last year, while trading volume in options was 97.5 million contracts in May, up 29% from April and 36% more than a year ago. The number of users totaled 23.1 million net cumulative funded accounts (NCFA) at the end of may, up 20,000 from April and 1% more than a year ago. The stock has rallied 15.6% year to date through Friday, while bitcoin
BTCUSD,
-1.25%
has soared 56.3% and the S&P 500
SPX,
+0.51%
has advanced 12.0%.