Avalanche and Stellar were added to Robinhood’s platform on Monday. Both tokens had immediate price spikes after the revelation, while Avalanche’s gains were swiftly lost.
Robinhood Listing Increases AVAX by 12%
Prices for Avalanche (AVAX) have increased by around 12% since the announcement. AVAX was trading at an average price of $28.6 at the time of writing. To $958 million, its 24-hour trading volume has surged by more than 23%. Its market capitalization exceeds $8.1 billion.
One of the tokens with the most recent growth has been AVAX. Its worth has increased by more than 25%.
Since the news was released, Stellar’s (XLM) price has increased by more than 9%. The 24-hour trading volume for XLM has surged by more than 102% to $286.5 million, nevertheless. Stellar is now selling at an average price of $0.134. The market value of XLM is greater than $3.39 billion.
The XLM coin, however, has benefited from this announcement and has now surpassed other top-performing tokens over the past 24 hours. Meanwhile, during the past seven days, its price has increased by nearly 15%.
New Features are Made Possible by Robinhood
The traditional listing format of the cryptocurrency exchange is well known. In July, Robinhood expanded its support for the LINK. Shiba Inu, Solana, and Polygon were among the popular meme tokens that were previously included. On the platform, users may now pick from 15 different cryptocurrencies.
In February 2018, Robinhood made its entry into the cryptocurrency trading market, first allowing customers to trade Bitcoin and a select few other altcoins. The meme cryptocurrency Dogecoin launched on Robinhood Crypto in July 2018. After that, the company managed to avoid issuing new coins for almost three years despite the enormous growth of the cryptocurrency market.
On July 20, Robinhood first made consumers aware of the opportunity to trade options using their cash accounts. However, it does specify that it is only accessible to qualified clients. It was listed as one of the blog’s most popular features. Users’ trading experiences will be improved and expanded as a result.
According to the company, users can trade with these accounts using either deposited money or settled payments. In the interim, the company expanded its offering to include options trading in cash accounts, which is a common service.
Now that Avalanche and Stellar were added to Robinhood, we can’t wait to see what’s next.
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