Small investors have started to ease back into crypto, even if they are not yet rushing in headfirst the way they did during the last bull market three years ago.
At the biggest US crypto exchange, Coinbase Global Inc., net consumer transaction revenue rose 60% in the fourth quarter from the yearago period, and 80% over the third quarter, according to shareholder letter released Thursday.
At Robinhood Markets Inc., which reported on Tuesday and is focused on retail users, crypto notional volumes in December jumped by 242% from a year ago, the company said.
These are just the latest signs that mom-and-pop traders, who lost billions of dollars after crypto-price collapse in 2022, may be starting to come back, thanks to the exuberance surrounding the January launch of US exchange-traded funds (ETFs) investing directly in Bitcoin. The price of Bitcoin more than doubled last year amid the hoopla, and the lure of even bigger gains is making some consumers forget just how volatile crypto can be.
"There are signs that the retail audience is starting to get back into the market, but not nearly to the extent of the last bull market yet," said Kyle Doane, a trader at Arca.
Esta historia es de la edición February 19, 2024 de Mint Mumbai.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición February 19, 2024 de Mint Mumbai.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
Yes, the world is hotter than it has been in 2,000 years or so
A scientific study of tree rings confirms global warming is for real
As a non-resident, is there a tax liability on exiting Indian MFs?
I have been investing in mutual funds for the past four years. Last year, I moved to Dubai and am currently a non-resident Indian NRD). Say, if] exit all my mutual fund investments now, would I have zero tax liability? —Name withheld on request.
Mergers off but PSB privatization still on
T 'he Centre doesn't have any plan to merge public sector banks (PSBS) in FY25, though it will not ditch plans to privatize PSBs during the fiscal, two people aware of the matter said.
Think Tesla Is In Trouble? Pity Even More Its Wannabe EV Rivals
The combined market value of six prominent wannabes hit 400bn in 2021, but today they are worth 65bn
Has The Growth Of Our Economy Translated Into Domestic Jobs?
While the covid shock and other setbacks got in the way, data indicates that employment in India is on a firm recovery path
Financial Sector Reforms Plan To Be Unveiled Post Elections
The govt will cut its stake in five PSBs this fiscal to comply with Sebi’s listing guidelines
Generative AI Is Not Ubiquitous In The Business World-Not Yet
While some AI tools racked up users, some firms are proceeding with caution, or not at all
Wipro’s CEO switch was not about its share price
Shareholder value data does not explain the firm's change on top. In a flux-filled field like infotech, business performance counts for more and Wipro's challenge still seems quite steep
How not to blow a major chunk of your travel budget on visas
Rejection of visas can impact your travel costs, especially when you have to cancel flight and hotel bookings
Wheat output at 106 mt to fall short of govt estimate: Survey
This decline in output comes at a time India confronts rising food inflation
