According to CoinMeta, as reported by The Block, the encrypted transaction revenue of Robinhood has dropped to 100 million US dollars, a year-on-year decrease of 37.5%, accounting for 13% of the total transaction revenue. However, the total transaction revenue of Robinhood reached 776 million US dollars, tying the record set in 2025 by Q4. Among them, the options revenue of Robinhood reached a record 342 million US dollars, and the stock revenue also set a record of 129 million US dollars. It is predicted that market revenue has surpassed encrypted business revenue for the first time, reaching 156 million US dollars. In contrast, the activity of Coinbase is linked to the trading cycle, lacking a similar business buffer.