I looked at Robinhood's Q1 earnings report, and the decline in cryptocurrencies is quite severe. Trading revenue plummeted 47% year-over-year to $134 million, and overall sales also fell short of expectations. The stock price dropped over 8% in after-hours trading.

What’s interesting is that prediction markets are growing explosively in tandem with this. The trading volume of event contracts reached a record 8.8 billion transactions, and revenue in this area increased by 320%. It feels like a new growth engine filling the gap left by cryptocurrencies.

User assets hit a record $307 billion, and Gold members reached 4.3 million, so the platform’s overall foundation remains solid. However, as long as the crypto market remains sluggish, whether this recovery trend can continue is a major concern for the market.