Papertrade Revenue Falls 83% as Oct. 17 Trading Activity Cools

Papertrade’s revenue fell 83% to $890,000 on Oct. 17, while trading volume, trade count and new-account totals for the UTC calendar day also fell from a day earlier. Volume totaled $54.23 billion, down 43% from $96.52 billion on Oct. 16. It was about 90% below the $564.23 billion high recorded Oct. 10. Papertrade logged 135,227 trades during the UTC calendar day, a 40% drop from 226,541 the day before. It added 622 accounts, down 53% from 1,322 on Oct. 16. Revenue ranked seventh among protocols on Oct. 17. Papertrade had previously reached second place, ahead of Circle. Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.

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