According to the Robinhood first-quarter revenue report. The company admitted that the meme-inspired coin DOGE accounted for 34% of its total Crypto transaction-based revenue in the first quarter of 2021. That’s up from 4% in the fourth quarter. Well, keep in mind that these numbers were from April when the DOGE price was not as high as it is today, thanks to Elon Musk for making DOGE a meaningful currency.
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So, many experts think that Robinhood’s crypto revenue doubled in the next quarter, which could translate into Robinhood generating more than 100 Million in revenue from the Dogecoin transaction in the second quarter. Robinhood also reveals that it made 30 Million dollars from Clients trading Dogecoin in the 1st quarter, and that amount likely skyrocketed ahead of the Company’s IPO. So from these numbers experts think that more than 80% of Robinhood users hold DOGE.
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