tl;dr
Robinhood has listed Shiba Inu (SHIB) for its New York users and has also moved a significant amount of SHIB tokens between its crypto wallets. The platform also listed Avalanche (AVAX) and Compound (COMP) for New York users, alongside existing cryptocurrencies. Last year, Robinhood delisted Solana ...
Robinhood has listed Shiba Inu (SHIB) for its New York users and has also moved a significant amount of SHIB tokens between its crypto wallets. The platform also listed Avalanche (AVAX) and Compound (COMP) for New York users, alongside existing cryptocurrencies. Last year, Robinhood delisted Solana (SOL), Cardano (ADA), and Polygon (MATIC) after the SEC labeled them as securities, leading to a drop in trading volume.
On-chain data shows that Robinhood moved 3 trillion SHIB tokens just hours before announcing SHIB's availability for New York customers. The platform has a significant amount of SHIB in its wallets and aims to tap into SHIB's trading volume. SHIB's price is currently around $0.00002523, down over 6% in the last 24 hours.
Robinhood made this known in an X (formerly Twitter) post by informing New York State residents that Shiba Inu was now available for them. The trading platform also revealed that it had listed Avalanche (AVAX) and Compound (COMP), which these users could also trade now alongside Shiba Inu.
Before now, Robinhood already made Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum Classic (ETC), Dogecoin (DOGE), Chainlink (LINK), and Aave (AAVE) available to its New York customers. Last year, the platform had to delist Solana (SOL), Cardano (ADA), and Polygon (MATIC) after the Securities and Exchange Commission (SEC) branded them as securities.
On-chain data shows that Robinhood moved 3 trillion Shiba Inu tokens just hours before it announced that the meme coin was now available for trading to its New York customers. This transaction is likely to have been facilitated to meet the requests bound to pour in following the announcement.
At the time of trading, Shiba Inu is trading at around $0.00002523, down over 6% in the last 24 hours, according to data from CoinMarketCap.
Disclaimer: The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.