In the early hours of the morning, the popular stock and crypto trading giant Robinhood quietly added a few more tokens to its offerings, rounding it out to 11.
Included in the new offerings are the ever-progressing innovator Solana (SOL), the Ethereum-based token and technological platform Polygon (MATIC), the beloved, dog-themed meme-coin Shiba Inu (SHIB), and the original defi token Compound (COMP).
Robinhood’s support of these 4 tokens has had an immediate effect on stocks, with SHIB rising almost 25% an hour (5:00 AM EST) following the news and the others rising just as rapidly.
Robinhood Making Crypto Moves in Miami
At the Bitcoin 2022 Conference in Miami, Robinhood announced that it would be adding a new feature to its platform, Lightning Network, to allow for speedier BTC transactions, meaning instant payments, lower costs, and off-chain transactions.
The announcement comes only 6 months after the trading giant shared that a wallet feature, enabling users to deposit and withdraw crypto assets, was in the works. Most recently, though, a beta of the wallet launched in January, allowing select users to transfer major cryptocurrencies including Bitcoin, Ethereum, and another well-beloved meme coin, Dogecoin.