Dogecoin (DOGE) Value, Chart, and Evaluation
- Robinhood shares crash regardless of Q2 income hovering to $565 million.
- The corporate warns a few slowdown in cryptocurrency buying and selling.
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Buying and selling app Robinhood (HOOD) launched Q2 earnings after the US bell yesterday, displaying revenues hitting $565 million within the second quarter of this yr, in comparison with $244 million in Q2 2020, with cryptocurrency buying and selling accounting for $233 million of income introduced. Regardless of the document numbers, Robinhood shares slumped post-announcement after the corporate warned of decrease Q3 revenues. The corporate highlighted that buying and selling in meme-inspired Dogecoin (DOGE) accounted for 34% of its cryptocurrency turnover within the second quarter and that if this income is just not changed in Q3, that enterprise might be ‘adversely affected’.
Robinhood shares closed at $49.74 pre-announcement and are at the moment seen over 13% decrease at $43 in pre-market buying and selling.
Chart through Coinmarket cap.com
The surge in Q2 cryptocurrency buying and selling, highlighted by Robinhood, was partly pushed by the alt-coin market. The alt-coin market capitalization – whole cryptocurrency market cap minus Bitcoin market cap – hit a peak valuation of slightly below $1.5 trillion in mid-Could as a variety of cash posted double- and triple-digit proportion positive aspects in 2021. Elon Musk and Reddit pet crypto, Dogecoin (DOGE) confirmed most likely essentially the most spectacular rally within the first few months of this yr, hovering from underneath 1 cent initially of 2021 to over 74 cents in early-to-mid Could. Dogecoin is at the moment quoted on both aspect of 30 cents.
Dogecoin (DOGE) Every day Value Chart August 19, 2021
Chart through Tradingview.com
Cryptocurrency exercise has slowed previously couple of weeks with market chief Bitcoin (BTC) struggling to interrupt the $46,500 space with any conviction. General market sentiment stays optimistic however this era of consolidation will harm Robinhood turnover. Robinhood at the moment affords 7 totally different cryptocurrencies on its buying and selling platform – Bitcoin (BTC), Bitcoin Money (BCH), Bitcoin SV (BSV), Ethereum (ETH), Ethereum Basic (ETC), Litecoin (LTC), and Dogecoin (DOGE). Whereas these cash present traders a spread to realize publicity to the cryptocurrency market, heavy exercise, and positive aspects, are at the moment being seen in different alt-coins, together with Cardano (ADA), Solana (SOL), and Terra (LUNA).
What’s your view on Dogecoin – bullish or bearish?? You may tell us through the shape on the finish of this piece or you’ll be able to contact the creator through Twitter @nickcawley1.
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