eToro, a mobile investment app supporting cryptocurrency trading, recorded $2.15 billion in crypto asset revenue in the first quarter of this year, a decrease compared to $3.5 billion in the same period last year. The company also stated that the number of cryptocurrency transactions in Q1 decreased by 32% year-on-year. However, eToro explained that it acquired the crypto wallet Zengo for $70 million to expand its DeFi business and also expanded its cryptocurrency trading services in the New York region. Meanwhile, Robinhood and Coinbase also recently reported a trend of decreasing cryptocurrency trading volume and revenue in their latest earnings reports.
