What to know : KuCoin recorded over $1.25 trillion in total trading volume in 2025 , equivalent to an average of roughly $114 billion per month , marking its strongest year on record. This performance translated into an all-time high share of centralised exchange volume , as KuCoin’s activity expanded faster than aggregate CEX volumes , which slowed during periods of lower market volatility. Spot and derivatives volumes were evenly split , each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line. Altcoins accounted for the majority of trading activity , reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover. Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity , indicating structurally higher user engagement rather than short-lived volume spikes.
Robinhood (HOOD) is sharpening its focus on advanced crypto traders, a pivot that reflects evolving customer behavior during a volatile year for digital assets.
“What we’ve seen really depends on the customer segment,” Johann Kerbrat, head of crypto at Robinhood, said in an interview.
“We have a lot of customers that are a bit younger. For them, they see this as a ‘buy the dip’ opportunity because they have a longer-term horizon, so they care less about short-term impact," he said.
But the company is also seeing a growing segment of more sophisticated users who are trading more frequently, including day trading and managing cost basis strategies, said Kerbrat, who will be speaking at Consensus Hong Kong in February 2026.
“We’ve seen a lot more activity from our advanced trader segment,” he said. “It’s a combination of having more advanced traders now, and also more tools for them to use.”
To support that shift, Robinhood has introduced features like tax-lot selection and custom cost basis options for crypto transfers, which help users manage their tax exposure more efficiently.
Crypto trades can now route through seven liquidity venues, and trading fees drop as low as three basis points depending on user volume.
For years, the trading platform was viewed as a beginner-friendly platform, a place where users got their start in crypto before moving on to more advanced tools elsewhere. Robinhood is now trying to shift that narrative.
“For the longest time, I think people considered Robinhood more of a single product,” he said. “People were like, ‘Oh, you can start on Robinhood, but then you go to a different platform.’ Now, we’re seeing more advanced traders coming from other platforms into Robinhood because they’re excited about what we’re building.”
That evolution comes as Robinhood plans to broaden its crypto business through international expansion, partnerships with on-chain protocols and infrastructure upgrades designed to support more advanced trading features.
Still, the company says it’s less focused on raw trading volume — which can fluctuate with market conditions — and more on gaining market share.
“If the volume is low, I can’t really do anything about that,” Kerbrat said. “But if someone prefers to use Kraken or Coinbase over Robinhood, that means my product isn’t good enough — so I’m going to focus on improving it.”
As for what 2026 holds?
“I think next year is going to be about accessibility,” Kerbrat said. “For too long, crypto was made by engineers for engineers. We want to expand that to everything we build on-chain.”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
