Smaller crypto investors are reportedly beginning to return to retail trading apps like Robinhood and Coinbase as BTC has rallied 25% in the last month.
According to a new Bloomberg report, small, “mom-and-pop” investors are creeping back into the crypto markets, though they’re nowhere near the same level of involvement as the last bull market.
Both Robinhood and Coinbase released positive earnings reports last week. Specifically, Coinbase announced a surge in revenue and users, and had its first profitable quarter in two years, sending its share price vertical.
Kyle Doane, a trader at Arca told Bloomberg,
“There are signs that the retail audience is starting to get back into the market, but not nearly to the extent of the last bull market yet… Even crypto stocks like COIN and miners are exhibiting more volatility than many tokens.”
According to Owen Lau, an analyst at Oppenheimer & Co.,
“We are only at 16% of the last peak retail volume. With the money returning from the bankrupt entities, there is a lot of room to run potentially.”
Coinbase CFO Alesia Haas also told Bloomberg that the firm has seen “good momentum drivers,” noting that the Bitcoin halving, which is slated for April and will cut miners’ BTC rewards in half, has historically resulted in more retail engagement and growth.
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Author: Daily Hodl Staff
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