Markets
Robinhood Launches Cryptocurrency Trading API: What’s Happening? – Robinhood Markets (NASDAQ:HOOD)
27% profits every 20 days?
This is Nic Chahine’s average value with his options purchases. Don’t sell covered calls or spreads… BUY options. Most traders don’t even have a 27% win rate on buy options. It has a winning rate of 83%. Here’s how he does it.
Exchange platform Robinhood Markets, Inc. (NASDAQ:HOOD) shares are trading higher in the morning session on Thursday.
The company announced Robinhood Crypto trade API, which its crypto customers in the US can use to trade cryptocurrencies without opening the application.
Furthermore, with the new development, customers can write their own programs to interact with cryptocurrency markets in real time, leveraging algorithms and strategies for easy trading.
“With our new cryptocurrency trading API, we help customers unlock the full potential of Robinhood Crypto with precision and security,” said Johann Kerbrat, VP and GM of Robinhood Crypto.
The trading platform API is designed for accessibility, allowing even novice programmers to trade safely and accurately, Robinhood emphasized in a statement.
“Robinhood Crypto has continued to see its market share increase as customers have access to an increasing number of advanced trading tools to help them efficiently navigate the cryptocurrency market,” Kerbrat added.
Cryptocurrency trading API benefits include: automation and customization, 24/7 trading, collaboration, and increased 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 using their own Robinhood Crypto accounts.
Take a look at RobinHood’s cryptocurrency trading volumes
Last month, Robinhood reported a significant decline in cryptocurrency trading volumes for April, reflecting a bigger picture cooling of retail investors interest in digital resources.
Related: Robinhood’s cryptocurrency trading volume plummeted 57% in April
The trading platform revealed in an operational report that its notional cryptocurrency trading volumes fell to $10.1 billion in April, a sharp 57% decline from $23.6 billion in March, Bloomberg reported.
Despite this sharp decline, the numbers are still up 173% compared to the same period last year.
In first-quarter results earlier this month, the company revealed notional cryptocurrency trading volume of $36 billion, worth increase more than tripled year on year. The increase in volumes helped increase cryptocurrency-related revenue to $126 million, up 232% year-over-year. According to the company, the cryptocurrency sector played a critical role in driving total transaction-based revenue to $329 million, up 59% from the same period last year.
Price action: At last check on Thursday, HOOD shares were trading 3.2% higher at $21.86.
Disclaimer: This content was partially produced with the help of artificial intelligence tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
27% profits every 20 days?
This is Nic Chahine’s average value with his options purchases. Don’t sell covered calls or spreads… BUY options. Most traders don’t even have a 27% win rate on buy options. It has a winning rate of 83%. Here’s how he does it.
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