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Robinhood allows Cardano (ADA) buying and selling for its 23 million customers

Robinhood lists Cardano yet ADA price remains unmoved

Fee-free funding platform Robinhood continues to develop its assist for various cryptocurrencies, with Cardano (ADA) being the most recent token to be listed. 

Robinhood said that the itemizing is because of demand from customers, with buying and selling within the token anticipated to start instantly, the platform stated in a tweet on September 1. 

Amid the continuing crypto bear market, the itemizing is but to encourage any pleasure amongst ADA traders because the token’s value stays sluggish. On this line, by press time, ADA was buying and selling at $0.44, recording a drop of just about 2.5% within the final 24 hours. 

ADA 1-day value chart. Supply: CoinMarketCap

Notably, the itemizing of ADA comes ahead of Cardano’s Vasil hard fork scheduled to be rolled out later this month. The improve is taken into account bullish and can introduce extra scalability to the platform. 

Robinhood accelerates itemizing of latest tokens 

It’s price mentioning that Robinhood, with about 22.9 million customers, has accelerated the itemizing of latest tokens in 2022 after showing to decelerate. 

Among the many widespread, just lately listed tokens embody Shiba Inu (SHIB), Polygon (MATIC), Solana (SOL) and Compound (COMP), and Chainlink (LINK). 

A lot of the listed tokens have been partly a results of group stress contemplating that Robinhood’s assist for various property has partly resulted within the rally of the respective cryptocurrencies. 

As an illustration, as reported by Finbold on April 12, about $1 billion of capital flowed into meme coin Shiba Inu inside an hour of incomes an inventory on Robinhood. 

Total, the elevated itemizing of property on the platform additionally goals to draw new customers as the corporate makes an attempt to manoeuver the present market volatility. The corporate has been pressured to fireside 1 / 4 of its workers in current weeks as a result of unfavorable financial situations. 

Disclaimer: The content material on this web site shouldn’t be thought of funding recommendation. Investing is speculative. When investing, your capital is in danger.

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