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Robinhood Adds SHIB, AVAX, COMP for New York Residents

Robinhood Adds SHIB, AVAX, COMP for New York Residents

Shiba Inu is now available to trade on Robinhood exclusively for New York residents. 

The brokerage firm has also included Avalanche and Compound in its listing. The market is starting to respond to this new addition. 

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Robinhood continues to expand its listings, with the platform now offering access to additional cryptocurrencies such as Shiba Inu (SHIB), Avalanche (AVAX), and Compound (COMP) in new regions.  

Robinhood is now hosting SHIB, AVAX, and COMP in New York. 

This listing is great news for New York residents, who now have the opportunity to buy, sell, and trade these altcoins on the widely used trading platform.  

These digital currencies are just a few of the many cryptocurrencies that Robinhood has recently added to its list. It is worth mentioning that these listings take into account the jurisdictions and the types of digital assets that are allowed.  

In early April, the prominent crypto trading platform unveiled its intention to include Optimism (OP) for European Union traders. Robinhood has added Solana-based BONK to its offerings, targeting customers in selected EU countries, similar to Bitcoin (BTC), Dogecoin (DOGE), Solana (SOL), and Ethereum (ETH).

Similar to a quantitative analyst, this suite of listings serves as a strategy for Robinhood to expand its reach while also providing a means for these assets to increase their adoption and utilization. Listing on a trading platform such as Robinhood, known for its credibility, can boost a token’s price trajectory, making it more visible and accessible to a wider range of traders.  

This action also showcases the platform’s dedication to addressing its customers’ changing demands by offering a wide selection of digital assets.  

Robinhood currently has a collection of over 30 carefully selected digital assets. 

Potential Price Surge for Listed Altcoins 

Listing these tokens typically triggers a positive price response, as seen with BONK. SHIB’s price has risen by 2%, and it currently trades at $0.00002661. The token also experienced an impressive increase in its burn rate.  

Indeed, the burn rate of Shiba Inu has experienced a significant surge of 2200%, fueling a sense of optimism among crypto enthusiasts. AVAX has shown a slight upward movement, with the coin increasing by 0.4% and currently trading at $38.57. COMP is presently priced at $59.95, reflecting a 0.90% increase in the past 24 hours. 

In the near future, these altcoins might experience further price increases as they gain more recognition, potentially leading to increased trader engagement. 

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