eToro shares (NASDAQ: ETOR) climbed 5.25% yesterday (Tuesday), closing at $46.73 in the strongest single-day performance since July 23. The rally marked one of the best trading sessions for the social trading platform since its Wall Street debut in May.

The jump came after eToro released business metrics for July and August that showed significant growth across key performance indicators. Assets under administration reached $19.7 billion in August, representing a 77% year-over-year increase from the same period in 2024.

eToro's stock had been testing historical lows around $43.50 throughout August, and Tuesday's session briefly revisited those levels before the afternoon surge. Despite the rally, shares remain down more than 30% since the company's IPO and 42% below their June 10 peak of nearly $80.

eToro Shares Rockets 5% on Explosive Crypto Trading Growth

The published metrics revealed particularly strong performance in cryptocurrency trading. The number of crypto trades jumped 49% year-over-year to 10.7 million during the two-month period, while the average amount invested per crypto trade nearly doubled with a 96% increase to $345.

Traditional capital markets activity showed more modest gains. The total number of equity and commodity trades rose 3% to 87.7 million, with the average trade size increasing 4% to $273.

Interest-earning assets grew 46% to $7.5 billion, while total money transfers surged 50% to $1.8 billion compared to the same period last year. Funded accounts reached 3.69 million in August, up 15% from 2024 levels.

eToro Key Performance Metrics Table

eToro Touts Results Following Weaker Q2 Report

The strong operational metrics contrast with eToro's mixed second-quarter earnings results published in August. The company reported net contribution of $210 million, a 26% year-over-year increase, but net income remained flat at around $30 million.

The fintech platform has been working to diversify beyond its core trading business. Recent initiatives include launching French savings products, expanding cryptocurrency offerings to over 100 digital assets in the U.S., and introducing AI-powered investment strategies called Alpha Portfolios.

eToro completed its transition to public markets this year after establishing its Asian headquarters in Singapore and expanding product offerings across multiple regions. The company ended the second quarter with $1.2 billion in cash and short-term investments.

Tuesday's trading volume and price action suggest investors viewed the July-August metrics as evidence that user engagement and platform activity continue growing despite broader market volatility affecting fintech stocks.

What Technical Analysis Says About eToro Shares

Although the rebound is evident, eToro shares continue to consolidate at historic lows. According to my technical analysis, only a return above the $48 level would relieve some selling pressure and open the path back to July's highs just above $53.

I would expect full pressure relief only above $58, where the first significant technical support ran along the May and June lows. This would mean, however, that eToro shares would need to rebound 24% from current levels.

How did eToro perform on Tuesday compared to its competitors? Warsaw-listed XTB fell 1.8% that day, while London-based Plus500 and CMC Markets declined 1.34% and 1.36%, respectively.