Solana (SOL), Polygon (MATIC), and Compound (COMP) have also been added to the zero-commission trading platform.
SHIB saw a 30% price increase this Tuesday, leading gains among major crypto assets, following the announcement of its listing on Robinhood. Shiba Inu is currently the 15th largest crypto with a market capitalisation of $14.7 billion.
Robinhood users have been requesting the addition of the meme coin for a long time. A petition to list the cryptocurrency has received more than 500,000 signatures.
After adding support for Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies in 2018, Robinhood has refrained from adding more cryptocurrencies in recent years. The company’s executives have frequently avoided questions about whether or not to list the second-largest meme coin, claiming that they are more concerned with quality than quantity.
SHIB trading will be available to the company’s approximately 17.3 million active users. This news could help push the “Dogecoin killer” to reach new all-time highs in the near future.
Robinhood’s Crypto Push
Aside from the new listings, Robinhood has been making significant moves in the crypto space in recent days. During the Bitcoin 2022 Miami Conference, for example, it announced plans to integrate the Bitcoin Lightning Network in order to enable faster BTC transactions.
Robinhood also launched its crypto wallet for 2 million eligible users. The app allows users to deposit and withdraw cryptocurrencies such as Bitcoin, Ethereum, and Shiba Inu’s main competitor – Dogecoin.
