Markets
Robinhood Launches Crypto Trading API – What’s Happening? – Robinhood Markets (NASDAQ: HOOD)
27% profits every 20 days?
This is Nic Chahine’s average with his options purchases. Not selling calls or covered spreads…BUYING options. Most traders don’t even have a winning percentage of 27% call options. He has an 83% win rate. See how he does it.
Trading platform Robinhood Markets, Inc. (NASDAQ:HOOD) shares are trading higher in the Thursday morning session.
The company announced Robinhood Crypto negotiation API, which your US crypto clients can use to trade crypto without opening the app.
Furthermore, under the new development, customers can write their own programs to interact with cryptocurrency markets in real time, leveraging algorithms and strategies to facilitate trading.
“With our new crypto trading API, we are helping customers realize the full potential of Robinhood Crypto with accuracy and confidence,” said Johann Kerbrat, vice president and general manager of Robinhood Crypto.
The API trading platform is designed to be accessible, allowing even novice coders to trade with confidence and accuracy, Robinhood highlighted in a statement.
“Robinhood Crypto has continued to see its market share increase as customers gain access to a growing number of advanced trading tools to help them efficiently navigate the crypto market,” Kerbrat added.
Benefits of the Crypto Trading API include: automation and customization, 24/7 trading, collaboration, and enhanced security.
The company highlighted that with the Robinhood Crypto trading API, customers and traders can independently share their code and trading strategies with others to implement them using their own Robinhood Crypto accounts.
Take a peek at RobinHood’s crypto trading volumes
Last month, Robinhood reported a significant decline in crypto trading volumes in April, reflecting a broad cooling on retail investor interest in digital assets.
Related: Robinhood Crypto Trading Volume Drops 57% in April
The trading platform revealed in an operational report that its cryptocurrency trading volumes fell to $10.1 billion in April, a sharp 57% drop from $23.6 billion in March, Bloomberg reported. reported.
Despite this sharp drop, the numbers were still up 173% compared to the same period last year.
In its first-quarter results earlier this month, the company reported a notional cryptocurrency trading volume of $36 billion, a increase of more than three times year after year. The increase in volumes helped increase cryptocurrency-related revenue to $126 million, a 232% increase year over year. According to the company, the cryptocurrency arm played a vital role in increasing total transaction-based revenue to $329 million, a 59% increase over the same period last year.
Price Action: HOOD shares are trading up 3.2% to $21.86 at last check Thursday.
Disclaimer: This content was produced in part with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
27% profits every 20 days?
This is Nic Chahine’s average with his options purchases. Not selling calls or covered spreads…BUYING options. Most traders don’t even have a winning percentage of 27% call options. He has an 83% win rate. See how he does it.
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