Robinhood Has Listed Cardano (ADA)

Robinhood, an online stockbroker, revealed on Thursday that it now supports the cryptocurrency Cardano (ADA).

After a long period of not listing new digital tokens, the Nasdaq-listed corporation has dramatically increased the number of cryptocurrencies that are currently accessible this year.

According to founder Charles Hoskinson, the most recent listing occurs just before Cardano’s Vasil update, which is anticipated to finally happen this September.

The IPO does not appear to have traders particularly enthused. Despite being listed on Robinhood, the ADA token is still down 0.4%, trying to defy the general bearish trend. 

Robinhood launched the meme coin Shiba Inu (SHIB) in April

After receiving more than 500,000 signatures on a petition to market the token, Robinhood launched the meme coin Shiba Inu (SHIB) in April. In the same month, support was also made available for Polygon (MATIC), Solana (SOL), and Compound (COMP) on the commission-free investing app.

The native token of the identical oracle program, Chainlink (LINK), was listed on Robinhood in late June. In order to guarantee lower fees and quicker transactions, the well-known trading platform also introduced MATIC deposits and withdrawals on the Polygon network on Wednesday.

Robinhood saw its shares fall in 2021 after riding the bull market wave in 2021, as active customers stopped using the services. In the second quarter of the year, its assets under custody fell by 37%.

A quarter of the company’s employees were let go as a result of the difficult economic environment, the company recently announced.

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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