Robinhood expanded its cryptocurrency offerings for US
customers by introducing Solana (SOL), Pepe (PEPE), Cardano (ADA), and XRP
(XRP).
This addition followed a shift in the digital asset
space following Donald Trump's return to the White House. According to the company, this move seeks to provide more diverse investment options for fintech giant users amid demand for a wider range of cryptocurrencies.
Robinhood's Crypto Expansion
Robinhood's latest update now brings the total number
of cryptocurrencies
Cryptocurrencies
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw
Read this Term available on its platform to 19. The timing of the new
crypto listings with the latest crypto rally has seen Bitcoin soar to an all-time high of more than $90,000.
Donald Trump's recent electoral win has stirred
optimism in the crypto community. The President-elect, set to take office in
January, has signaled a more favorable stance toward digital innovation.
Commenting about the new additions, Johann Kerbrat,
the VP and GM of Robinhood Crypto, said: "We've consistently heard from
our customers that they want access to more digital assets, and we're excited
to continue expanding our crypto offering. With lower barriers to entry, we believe crypto
presents an opportunity for those who have been historically left behind by the
traditional financial system."
GM. Solana ($SOL), Pepe ($PEPE), XRP ($XRP), and Cardano ($ADA) are now available to trade on Robinhood.https://t.co/CBj6uKDkAZ pic.twitter.com/48wXE9zs8V
— Robinhood (@RobinhoodApp) November 13, 2024
Notably, Robinhood halted support for certain tokens
last year, including Solana (SOL) and Cardano (ADA), after the tokens
were named in an SEC lawsuit targeting Binance and Coinbase.
The lawsuit classified some of these assets as
unregistered securities, creating uncertainty around their legal status. The
crypto industry is now hopeful for clearer guidelines from the SEC, especially
under new potential leadership.
Market Reactions and Industry Impact
These updates from major trading platforms indicate a
growing confidence in the digital asset market, boosted by the anticipation of
a better regulatory environment.
At the time of writing, the four tokens, SOL, PEPE,
ADA, and XRP, had posted a price jump of 16%, 127%, 65%, and 33%, respectively.
The tokens also posted positive price increases in the daily chart of 1.66%,
64%, 1.38%, and 3%, respectively.
Meanwhile, Robinhood recently collaborated with major crypto companies to firms to introduce a Global Dollar Network. The firm lauded
this move as an important expansion of the retail trading platform. The project, which brings together Kraken, Paxos, and
Galaxy Digital, aims to challenge the current stablecoin
Stablecoin
Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including
Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including
Read this Term market dominated by
Tether and USD Coin.
Robinhood expanded its cryptocurrency offerings for US
customers by introducing Solana (SOL), Pepe (PEPE), Cardano (ADA), and XRP
(XRP).
This addition followed a shift in the digital asset
space following Donald Trump's return to the White House. According to the company, this move seeks to provide more diverse investment options for fintech giant users amid demand for a wider range of cryptocurrencies.
Robinhood's Crypto Expansion
Robinhood's latest update now brings the total number
of cryptocurrencies
Cryptocurrencies
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw
Read this Term available on its platform to 19. The timing of the new
crypto listings with the latest crypto rally has seen Bitcoin soar to an all-time high of more than $90,000.
Donald Trump's recent electoral win has stirred
optimism in the crypto community. The President-elect, set to take office in
January, has signaled a more favorable stance toward digital innovation.
Commenting about the new additions, Johann Kerbrat,
the VP and GM of Robinhood Crypto, said: "We've consistently heard from
our customers that they want access to more digital assets, and we're excited
to continue expanding our crypto offering. With lower barriers to entry, we believe crypto
presents an opportunity for those who have been historically left behind by the
traditional financial system."
GM. Solana ($SOL), Pepe ($PEPE), XRP ($XRP), and Cardano ($ADA) are now available to trade on Robinhood.https://t.co/CBj6uKDkAZ pic.twitter.com/48wXE9zs8V
— Robinhood (@RobinhoodApp) November 13, 2024
Notably, Robinhood halted support for certain tokens
last year, including Solana (SOL) and Cardano (ADA), after the tokens
were named in an SEC lawsuit targeting Binance and Coinbase.
The lawsuit classified some of these assets as
unregistered securities, creating uncertainty around their legal status. The
crypto industry is now hopeful for clearer guidelines from the SEC, especially
under new potential leadership.
Market Reactions and Industry Impact
These updates from major trading platforms indicate a
growing confidence in the digital asset market, boosted by the anticipation of
a better regulatory environment.
At the time of writing, the four tokens, SOL, PEPE,
ADA, and XRP, had posted a price jump of 16%, 127%, 65%, and 33%, respectively.
The tokens also posted positive price increases in the daily chart of 1.66%,
64%, 1.38%, and 3%, respectively.
Meanwhile, Robinhood recently collaborated with major crypto companies to firms to introduce a Global Dollar Network. The firm lauded
this move as an important expansion of the retail trading platform. The project, which brings together Kraken, Paxos, and
Galaxy Digital, aims to challenge the current stablecoin
Stablecoin
Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including
Unlike other cryptocurrencies like Bitcoin and Ethereum, stablecoins are cryptocurrencies that have been designed to keep a stable value. Placing a greater emphasis on stability over volatility can be a huge draw for some investors. Many individuals can be turned off from large swings and uncertainty presented by cryptos relative to other traditional assets.Stablecoins control for this volatility by being pegged to another cryptocurrency, fiat money, or to exchange-traded commodities, including
Read this Term market dominated by
Tether and USD Coin.
