Robinhood Adds New Cryptocurrencies to Platform

investopedia.com:

Online brokerage Robinhood Markets, Inc. (HOOD) added four new cryptocurrencies to its trading platform on April 12, 2022, leading to excitement among cryptocurrency traders and holders. Robinhood Crypto now features Compound (COMP), Polygon (MATIC), Solana (SOL), and Shiba Ibu (SHIB),all top 100 cryptocurrencies on the CoinMarketCap ratings.

Robinhood is a commission-free trading platform that offers stocks, exchange-traded funds (ETFs), options, and cryptocurrency investing and trading products. Robinhood already supported popular currencies including Bitcoin, Ethereum, Litecoin, and Dogecoin. With the four newly added digital currencies, Robinhood now offers 11 unique cryptocurrencies on its platform.

According to a blog post from Robinhood, cryptocurrency customers have consistently requested a more extensive set of coins and tokens as well as the ability to send and receive cryptocurrencies outside of Robinhood. In the announcement, the company offered the four new currencies alongside access to a new cryptocurrency wallet feature to more than 2 million customers on a waitlist.

Shiba Inu holders and enthusiasts took to Twitter and other social media platforms to share their excitement at the addition of Shiba Inu.Robinhood's announcement also led to a sharp initial price increase for the low-priced currency, which was up about 20% and trading at $0.00002646 as of this writing. Shiba Inu is the 15th largest currency by market cap, with a total value of about $15 billion.Compound, Polygon, and Solana also saw increases, but these were modest compared with Shiba Inu's gains.

CoinMarketCap lists nearly 10,000 digital currencies, and CoinGecko features listings for more than 13,000. While many are near worthless, the