Cryptocurrency News

Robinhood’s Listing of SHIB, SOL, MATIC, and COMP Generate Considerable Market Excitement

By April 12, 2022 No Comments

Key takeaways:

  • Popular trading platform Robinhood has listed Solana, Shiba Inu, Polygon, and Compound
  • All four newly-listed digital assets have experienced significant upward price movement in the hours since the announcement
  • Shiba Inu has jumped 20% on the news

Robinhood adds support for four new crypto assets

Commission-free trading platform Robinhood today announced the listing of four popular digital assets, including Shiba Inu, Solana, Polygon, and Compound. The financial services company said in a statement that the listings come as a response to community members consistently asking about a “broader selection of cryptocurrencies.”

Robinhood CBO Steve Quirk commented on the expansion of the company’s crypto offering: 

“We’re excited to add more choices for our customers as we work to make Robinhood the best place to invest in crypto. As a safety-first company, we have a rigorous framework in place to help us evaluate assets for listing, and we remain committed to providing a safe and educational crypto platform.”

In celebration of the news, Robinhood has announced it is giving away $100,000 to users who participate in the Twitter promotion.

Shiba Inu jumps 20% after Robinhood listing

All four digital assets that Robinhood listed today experienced a notable boost to their prices. At press time, Solana is showing 24-hour gains of 3.5%, while Polygon and Compound are changing hands up roughly 6.5% each.

The price of SHIB experienced a sharp uptick in the hours after the Robinhood listing.

However, the popular memecoin, Shiba Inu, exploded by as much as 25% in the hours since the announcement, before retracing to “just” 20% gains at the time of writing.

Against a backdrop of multi-day long bearish activity, three of the four new digital assets listed by Robinhood, namely SHIB, COMP, and MATIC, managed to claim three of the top five spots on the list of today’s largest gainers in the cryptocurrency top 100.