The chainlink (LINK) cryptocurrency’s investors are overjoyed. Finally, equity trading company Robinhood accepted their complaint. The listing of LINK on the stock exchange has been formally confirmed by the latter, and this has raised the value of the digital asset.
Numerous Cryptocurrencies Listed
According to information from CoinMarketCap, the token’s price increased by more than 4% in the hours following the news of its listing. As a result, in terms of market value, it rose to become the 22nd largest token. However, the trading company now accepts more than just LINK. SHIB, SOL, MATIC, and COMP are among more active compounds that have been added to its product line.
In addition, it should be noted that following its inception, DOGE was one of the cryptocurrencies added to the Robinhood trading platform due to its popularity. It is present on the platform as of 2018, along with other significant cryptocurrencies like BTC and ETH.
Both increases and a decline
According to a story from Bloomberg on Monday, the cryptocurrency juggernaut FTX intended to acquire Robinhood. He was swiftly refuted by the stock market, which is overseen by millionaire Sam Bankman-Fried.
However, it should be emphasized that Bankman-Fried owns a 7.6% share in Robinhood. When he unveiled it in May of last year, the company’s shares rose dramatically in value on the same day. The percentage increased to 40%. In order to give its consumers the ability to control their own assets, Robinhood also announced the opening of its own bitcoin wallet.
Despite some encouraging news from Robinhood, it’s important to remember that the stock has lost more than 50% of its value so far this year. This problem is primarily attributable to the decline in customers using the business’ services during the time when the cryptocurrency market entered a bear market.
To provide its users more options, trading startup Robinhood has disclosed that its selection of cryptocurrencies has been enlarged. As a result, its shares increased marginally, albeit they have currently started to decrease and are in a relatively negative phase. The fact is that the business delights its clients.
