Popular crypto stock plunges on November trading volume drop

Robinhood Markets (Nasdaq: HOOD), the e-trading platform offering stocks, cryptocurrencies, and tokenized offerings, reported a slump in trading volume across assets in November.

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Crypto trading volume on Robinhood stood at $28.6 billion in November, down 12% month-over-month (MoM).

Equity trading volume on Robinhood fell 37% MoM to $202 billion in November.

Total platform assets on Robinhood slipped 5% MoM to $325 billion in November.

The slump in Robinhood's crypto trading volume during the last month can be attributed to the massive crypto market crash following President Donald Trump's anti-China remark over tariffs on Oct. 10.

The crypto market has failed to recover since then. The total market cap has fallen from $4.28 trillion in early October to $3.11 trillion at the time of writing.

Bitcoin (BTC), which reached north of the $126,000 price mark to reach a new record high in early October, was exchanging hands at $91,163.20 at press time. No other major cryptocurrency is doing any better.

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Founded in 2013 by Stanford graduates Vlad Tenev and Baiju Bhatt, Robinhood went public on the Nasdaq under the ticker HOOD in 2021. In 2025, the firm hit another milestone, joining the S&P 500 index.

Robinhood relies heavily on transactions for its revenue and the recent slump in trading volume across assets has implications for the company's revenue.

No wonder the investors are disappointed with the November trading volume metrics shared by the broker.

The HOOD stock fell more than 9% and was trading at $123 at the time of writing.

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