Investors who have been demanding for Robinhood to include the Shiba Inu coin will have to wait. According to the brokerage, it is not in a haste to add novel currencies onto the platform. Numerous specialists expect revenue growth to emerge from other sources.
About Robinhood
Robinhood was established in 2013 as a zero-commission framework. It became popular amidst the COVID-19 pandemic. The primary reason being temporary suspension of various forms of entertainment. In addition, individuals started investing in meme-tokens such as the Shiba Inu coin as a habitual leisure activity.
At present, the platform comprises of 7 cryptocurrencies including Dogecoin. Individuals await the listing of Shiba Inu coin. Over the previous year, Robinhood’s cryptocurrency trading earnings have increased by 860%. The surge in retail investment enthusiasm has attracted new clients to this platform.
Market Excitement about Shiba Inu Coin
Robinhood clients are hoping for Shiba Inu coin’s listing due to its incredible rise. The most frequently submitted query on ‘Robinhood’s Say Technology’ portal is when will Shiba Inu coin be added on the platform. Furthermore, approximately 400,000 people have signed an online petition to include Shiba Inu on Robinhood. Likewise, #SHIB gained attention on Twitter, with some tweets using the phrase ‘When #shiba’.
Shiba Inu may be purchased on several crypto exchanges, including Coinbase. The opportunity to purchase it on Robinhood is awaited due to cheaper charges compared to its rivals. This would enable consumers to switch among crypto, equities, and options on a single marketplace.
Shiba Inu’s inclusion could result in a surge in trading velocity. However, taking care of customer needs comprises of its own series of concerns. According to Mati Greenspan, CEO of Quantum Capital’s crypto advice and analysis division, exchanges will have to be on their feet to maintain their customers satisfied if traders continued to look for fresh tokens in the hopes of quicker profits.
Also Read How To Buy Shiba Inu Coins In India- Ultimate Guide
Robinhood’s Response
The brokerage announced earlier this week that it will wait for further administrative clarification before listing the Shiba Inu Coin. Regulatory authorities around the world have been clamping down on the swiftly growing cryptocurrency sector. This includes the Securities and Exchange Commission which stated that it is looking into numerous elements of digital tokens.
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