According to Robinhood February data, crypto notional trading volume rose 9% to $25 billion, while stocks, options and event contracts contracted, proving speculative energy is returning to the coin.
summary
- Cryptocurrency notional notional transactions reached $25 billion in February, up 9% month-on-month and 74% year-over-year, of which $9.4 billion was transferred through apps and $15.6 billion via Bitstamp.
- Notional equity trading volume fell 14% from January to $194.4 billion, and option contracts fell 10% to $180.3 million, highlighting a cooling in risk appetite outside of coins.
- Event contracts have plunged 29% compared to January, indicating that speculation is moving away from Robinhood’s prediction market and back into volatile crypto names.
Robinhood’s February numbers are revealing. Cryptocurrency is the way of life and everything else is gone.
Robinhood’s cryptocurrency trading volume soars in February
Robinhood reported that crypto notional trading volume was $25 billion in February, an increase of 9% month-over-month and 74% year-over-year. Of that amount, $9.4 billion went through the Robinhood app itself, and the remaining amount was sent through Bitstamp. Bitstamp was acquired by Robinhood in 2025 and is currently used as an institutional and high liquidity backend. This follows January’s $22.9 billion in crypto trading volume, marking Robinhood’s second consecutive month of growth in digital asset activity heading into 2026.
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The crypto growth comes as Bitcoin trades near all-time highs and volatility picks up across major and meme-adjacent tokens, pulling in both retail flow on the app and big tickets via Bitstamp. For Robinhood, this combination is ideal. It’s more conceptual, with fatter spreads and more engagement for product lines that were supposed to be phased out after 2021, but are now the only product line that’s actually being leveraged.
Stocks, options, and event contracts slump
Everything except cryptocurrencies is going in the opposite direction. Notional equity trading volume in February was $194.4 billion, down 14% from January but still up 36% year over year. Option contracts traded fell to 180.3 million contracts, down 10% month over month and up just 9% year over year, with average daily options trading volume at 9.5 million contracts, down 5% compared to January.
The hardest hit was Robinhood’s event contracts, a prediction market-style product. Just 2.4 billion event contracts were traded in February, down 29% from January levels, but returning some of the growth the company had touted as part of its post-meme diversification story. This shows where the speculative energy has rotated. I moved away from binary macro betting and returned to leveraged play against BTC and friends.
What this rotation actually means
From a market structure perspective, Robinhood is just a reflection of the broader situation. Cryptocurrency volatility and upside trends are attracting flows on margin, while individual stock and options trading has subsided after a wild rally. For the crypto market, more retail flow through Robinhood and Bitstamp means more noise, more forced buying and selling around headlines, and thicker tails on both sides in the event of a Fed or macro shock.
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