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AI summary of a third-party reportBearishNewsDesk

Gemini retail trading volume falls to three-year low despite spot rebound

Gemini's third-quarter retail trading volume dropped 14% to $600m, its weakest since 2023, even as total spot volume rose 18% to $4.5bn on institutional activity.

Why it matters: Retail trading is a core revenue source for crypto exchanges, and Gemini's slump echoes softer consumer activity reported by Coinbase and Robinhood.

InvestIn.News NewsDesk · 1 min read
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Picture from Cointelegraph for: Gemini retail trading volume falls to three-year low despite spot rebound
Image: Cointelegraph
Original reporting: Felix Ng, Cointelegraph

Key points

  • Retail volume fell 14% to $600m, the lowest since the third quarter of 2023, while institutional volume rose 26% to $3.9bn.
  • Total spot trading volume climbed 18% from the second quarter to $4.5bn, helped by institutional Zcash activity and affiliated market-making.
  • Exchange revenue rose 7% to $13.4m, with retail traders still contributing nearly three-quarters of it.

Gemini's retail trading volume sank to a three-year low in the third quarter, Cointelegraph reports, even as the exchange's overall spot activity grew.

Gemini attributed the overall increase to greater institutional Zcash activity and expanded affiliated market-making. It gave no specific reason for the retail decline.

Other exchanges have also reported softer crypto trading. Coinbase's consumer spot volume fell 9% to $23.4bn, with chief financial officer Alesia Haas saying growth in prediction markets helped offset weaker crypto activity. At Robinhood, crypto revenue dropped 55% year-on-year to $120m, offset by a sixfold rise in event-contract revenue to $173m.

Gemini's own prediction exchange, Gemini Predictions, saw revenue rise 52% quarter-on-quarter to $796,000, too small to offset declines elsewhere.

What to watch: Gemini is set to host its Q3 earnings call on Friday.

Read the full story on Cointelegraph

Live updates on NewsFeeds:AIFrom our AI Hub: Is ChatGPT, Claude or Gemini down?, AI API prices, new AI modelsDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of Cointelegraph’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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