AVAX And XLM Spike After Robinhood Listing Announcement

After Robinhood announced the listing of AVAX (Avalanche) and XLM (Steller Lumen), both of these tokens have experienced strong growth in the past 24 hours.

On August 8, the Robinhood stock and cryptocurrency trading platform listed AVAX and XLM. Following the news, both of these tokens became “mutant,” but quickly retreated from the upside.

Since the announcement, Avalanche prices have jumped by around 12%. AVAX is trading at an average price of $27.92 at the press time. Its 24-hour trading volume is up by more than 35% to stand at $1.007 billion. It is holding a market cap of over $8.6 billion.

While Stellar price went up by over 7% since the announcement. However, the 24-hour trading volume has surged by more than 40% to stand at $199.6 million. Stellar is trading at an average price of $0.1265, at the price time. XLM holds a market cap of more than $3.34 billion.

However, this announcement has helped the token to land among the most surged token over the past 24 hours. Meanwhile, its price has jumped by around 15% in the last 7 days.

The crypto exchange is well-known for its traditional listing approach. Robinhood introduced support for the LINK in July. It has previously listed popular meme tokens Shiba Inu, Solana, and Polygon. Currently, Robinhood provides a transaction for just 15 crypto tokens.

Previously, Robinhood allowed customers to trade options in cash accounts. It does, however, state that it is only available to qualified clients. It was one of the most requested features. This will help to enhance and improve the trading experience of users.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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