Bitstamp accounted for $20 billion, or 77%, of Robinhood’s $26 billion sequential crypto-volume decline from Q1 to Q2 2026. Bitstamp volume fell 48%, from $42 billion in Q1 to $22 billion in Q2. The Robinhood App saw a more modest 25% decline, accounting for the remaining $6 billion of the drop. Robinhood’s total crypto notional shrank 39%, from $66 billion to $40 billion. The comparison is complicated by WonderFi trades being included in the App metric from June and by Bitstamp’s predominantly institutional customer base, which makes its trajectory unrepresentative of Robinhood App retail engagement.
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