American cryptocurrency trading platform Robinhood (NASDAQ:HOOD) listed the popular memecoin Shiba Inu (SHIB) along Solana (SOL), Polygon (MATIC) and Compound (COMP) to its crypto list. Although there is no official release from Robinhood on this matter (except a tweet), the new cryptocurrencies are now available on Robinhood’s website.
We dropped new crypto And we're giving away $100K of it. Quote tweet this tweet with your Robinhood Username (@ included!) to get some #RobinhoodCryptoThe first 10K quote tweets will receive $10 of SHIB. pic.twitter.com/0jsBKYfJvw— Robinhood (@RobinhoodApp) April 12, 2022
“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.” At Miami Bitcoin Conference 2022, Robinhood announced plans to add the Lightning Network to their platform to allow faster Bitcoin transactions.
The announcement came six months after Robinhood disclosed the development of a wallet feature that enables users to deposit and withdraw cryptocurrencies. In January, the fintech launched a Beta version of the wallet that allowed traders to transfer Bitcoin, Ethereum, and Shiba Inu’s memecoin rival Dogecoin.
On The Flipside
- The price of SHIB token ‘reacted’ to the news with a surge of 20% in the last 24 hours. Meanwhile, SOL increased by 1%, MATIC by 3.5% and Compound had a 7.5% rise.