Robinhood’s Crypto Revenue Declined to $39M in Q4 2022

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Today’s Cryptocurrency Headline

Online trading brokerage Robinhood reported $39 million in cryptocurrency trading revenue for the fourth quarter of 2022, down 24% from $51 million in the third quarter. The company noted that its Robinhood crypto wallet has been rolled out to more than 1 million waitlisted users in 2022 after releasing a beta version of its Polygon-based Web3 wallet in September. Robinhood’s fourth-quarter adjusted loss of 19 cents per share was higher than analysts’ consensus estimate for a loss of 15 cents per share, on revenue of $380 million, below analysts’ estimate of $396 million.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Bitcoin is down 1.61% over the last 24 hours and fell to an intraday low of $22,673.56. The largest cryptocurrency moved back to the support zone between $22,800 and the 20-day exponential moving average ($22,607), suggesting the bears are active near the $23,000 price level. The negative divergence on the relative strength index (RSI) signals that the bullish momentum is slowing down, but the rising 20-EMA suggests an advantage to buyers. The buyer will try to push the BTC/USDT pair above $24,000 and challenge the $25,000 price level.

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