eToro said today (Tuesday) its clients placed 2.0 million crypto trades in October, 62% fewer than a year earlier. Funded accounts grew 18% over the same period to 4.42 million.

The monthly data came with third-quarter results that showed net income down 74% year-over-year at $15 million.

The gap runs through the other October figures. Capital markets trades fell 22% year-over-year to 48.2 million, and the average amount invested per trade fell 49% to $184. More people hold eToro accounts, but each one trades less and with smaller stakes.

That shows up in revenue. Net contribution, the company's main revenue measure, fell 13% year-over-year to $186 million, the second straight quarterly decline after $258 million in the first quarter and $229 million in the second.

The income statement shows where the quarter lost ground. Crypto contributed about $28.3 million after costs, down from $59.0 million a year earlier, by FinanceMagnates.com's calculation. That 52% drop is close to the 55% fall in crypto revenue that Robinhood reported for the same quarter.

"Crypto activity sequentially recovered," Chief Financial Officer Meron Shani said in the release, speaking of the change from the second quarter.

Net trading income from equities, commodities and currencies rose 21% year-over-year to $88.5 million, but it was 38% below the $141.6 million booked in the second quarter. Net interest income from users fell 15% to $50.0 million.

2 million, leaving a margin of 18% of net contribution, half the 36% of a year earlier. 1 billion.

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