Popular cryptocurrency exchange Robinhood lists 2 altcoin projects among the top 15 by market cap. The announcements in the middle of the bear market were enough to push prices to the green.
Robinhood adds support for two rooted altcoins
Robinhood has announced that it is now opening Polygon (MATIC) transactions. According to the announcement, users will now be able to withdraw and invest in the MATIC token.
Hey! You can now send and receive MATIC on the @0xPolygon network in addition to the @ethereum network. Support for more cryptocurrencies on more networks coming soon.
— Robinhood (@RobinhoodApp) August 31, 2022
MATIC price is currently rising over 5%. The listing announcement of the stock market came yesterday at noon. MATIC was then caught in the market movements for a long time and traded in the red. However, interestingly, it has been rising in the last hours as Bitcoin and Ethereum lost value. At the time of writing, the only green token among the top 50 was MATIC.
On the other hand, Robinhood also said that it will provide support for more cryptocurrencies in the near future. As you follow on Kriptokoin.com, Robinhood announced the listing of Stellar (XLM) and Avalanche (AVAX) in early August. Prior to that, it also provided support for Polygon (MATIC), Solana (SOL), and Shiba Inu (SHIB). Meanwhile, the exchange noted that it has become “more expensive” to send crypto to the Ethereum network due to rising gas fees. Polygon makes it possible to explore Web3 with much lower gas fees while benefiting from faster transactions. This is why it is increasingly in demand in Cardano, one of the strongest Ethereum competitors.
Cardano (ADA) is now on the list
The Cardano announcement came from Robinhood’s official Twitter account during the day. In a newsletter, Robinhood announced that it has added support for Cardano.
You asked… @Cardano is now on Robinhood #ADA #CryptoListing https://t.co/30JpA2vPF5 pic.twitter.com/GlXXu3S1lL
— Robinhood (@RobinhoodApp) September 1, 2022
The company, which is on the Nasdaq list, avoids listing new cryptocurrencies for a long time. But this year it has significantly expanded the list of available cryptocurrencies. The latest listing comes on the cusp of Cardano’s Vasil upgrade, which is expected to finally happen this September, according to founder Charles Hoskinson. Investors don’t seem overly excited about the listing. Despite the Robinhood listing, the ADA token is still bearish and struggling to beat the trend.
Robinhood previously listed the Shiba Inu (SHIB) in April after a petition passed half a million signatures. The popular cryptocurrency exchange has since expanded its list with popular altcoin projects.
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