James Atkins
Editor
Editor
Shiba Inu (SHIB) is now available on Robinhood, after a lengthy wait.
The meme-coin was added to the platform today.
Along with other major cryptocurrencies including Polygon (MATIC), Solana (SOL), and Compound (COMP).
This news has caused SHIB prices to surge as investors flock to the coin.
This is a major development for SHIB as it was one of the only major coins not to be listed on Robinhood.
According to Vlad Tenev Robinhood CEO:
“We’re being cautious. We don’t want to trigger SEC cryptocurrency regulations.”
The popular trading platform had been excluding SHIB (and other meme-coins) from its listings due to their high volatility and low market capitalization.
However, with SHIB’s recent price surge, it implies that Robinhood has finally changed its tune.
The Robinhood news immediately drove SHIB’s price up by more than 10%, and it was up by over 15% at the time of publication.
This caused SHIB to enter the top-30 coins by market capitalization for the first time.
SHIB’s price is now up by over 1,400% in the last 30 days and nearly 4,000% since it was first listed on exchanges in mid-August.
With this listing on Robinhood, SHIB is expected to see even more price gains in the coming days.
Since the decline between the end of November 2021 and the end of January 2022, Shiba Inu’s price has hovered around $0.00003.
The SHIB community is confident that Robinhood will raise the meme coin’s price to at least $0.00003 once it debuts in Shiba Inu’s metaverse.
SHIB is currently up over 15% on the news of its listing on Robinhood and is now trading at $0.000035.
This latest development is sure to help SHIB gain even more mainstream adoption in the cryptocurrency space.
Robinhood, chief product officer Aparna Chennapragada says at this year’s Bitcoin Conference 2022 in Miami.
That the company intends to integrate the Bitcoin Lightning Network into its platform so that transactions may be made more quickly.
Chennapragada says that the company is looking to add support for Lightning Network in the next few months.
Lightning Network is a second-layer solution that helps reduce congestion on the Bitcoin blockchain by opening up a network of payment channels between users.
This would enable Robinhood users to transact with each other much faster and at a lower cost.
In addition, Chennapragada said that Robinhood is also considering adding support for other cryptocurrencies, including Ethereum, Litecoin, and Dogecoin.
With the addition of SHIB, Robinhood now supports a total of 16 cryptocurrencies on its platform.
This latest development is sure to help SHIB gain even more mainstream adoption in the cryptocurrency space.
In a recent post, Robinhood says:
“The first step in a thrilling journey for Robinhood Crypto is allowing send and receive functionality.
When customers engage with the crypto ecosystem, we’re aiming to allow them to do more with their wallets while also attempting to reduce costs wherever possible.”
The popular investing app Robinhood has finally listed Shiba Inu (SHIB), causing the SHIB price to surge.
SHIB is now available to trade on Robinhood in select states.
This SHIB listing by Robinhood will bring about two things for the meme-coin:
Firstly, investors will begin to cash in on the current SHIB’s price climb.
And secondly, SHIB will be a major future contender in the crypto space.
I have been writing copy for blockchain-related projects since 2017. I understand the importance of being able to communicate clearly and effectively with both technical and non-technical audiences. By leveraging my understanding of the crypto industry trends, I can help increase adoption in this rapidly evolving landscape.
