Robinhood lists 4 new crypto tokens on their platform. These are Solana (Sol), Polygon (Matic), Shiba Inu (SHIB) and Compound (Comp). The exchange has always said that it does not plan to list all crypto tokens on its platform. And the first priority is the safety of its users. It shows because all the tokens listed are quite popular and came very late to the exchange.
The firm’s brokerage manager said he was excited to offer more options to his clients. It took time as they put in place a robust framework to evaluate tokens before they get listed on the platform. You can trade them on Robinhood now, however, the deposit and withdrawal feature will come a bit later.
Shiba Inu soared after registration
The ShibaInu community has long requested Robinhood to list the token. And now that it’s happened, SHIB has jumped 20% to its highest level in two months. While its market capitalization is still far behind Dogecoin, another rally could take it past the coin. SHIB seems to have more utility than Doge with NFT Markets, Defi Platform and many other projects.
Other Tokens Listed
After listing, the three remaining tokens, Solana, Polygon, and Compound, also increased in value by 5%, 8%, and 7%. When it comes to these digital assets, let’s first talk about Solana. It is a POS token and aims to be an Ethereum killer. Solana’s cheap and fast transactions are its main USP. It can support up to 65,000 TPS. However, its centralized nature and frequent network outages made it a less attractive investment.
Second, we have Polygon (Matic), which runs on a side chain to Ethereum and is a very popular project. It can also support up to 65,000 TPS and has low network charges. Its main USP is security and has a total supply of 10 billion.
Finally, we have Compound, which is a protocol designed for developers to build financial applications. Users can earn interest by depositing their Comp into pools that borrowers can use. It’s a great project, whose main USP is borrowing and lending. Comp’s total supply is 10 million.
What do you think as Robinhood lists 4 new crypto tokens? And which one were you most excited for? Let us know in the comments below. Also, if you found our content informative, like it and share it with your friends.
Read also : Coinbase Accused Of Serious Insider Trading After Recent Token Listing Announcement.