Will Robinhood list Shiba Inu is the question many Shiba Inu faithful has been asking. The Token has recorded a tremendous breakthrough in the last few months. This has seen it increase by approximately 70,000,000% in the last year, giving it a market value of $29 billion.
Robinhood, the app that allows you to trade stocks for free, is not only bringing the stock market to your phone. But also allowing you to trade cryptocurrencies and other assets on a commission-free basis.
A new feature of Robinhood Crypto is the ability to track specific coins. Iif the coin increases in value by at least 1%, you’ll get a “small reward” gift of that coin.
Robinhood is launching with several coins (Bitcoin, Bitcoin Cash, Litecoin, Ripple, Ethereum and Ethereum Classic). But they don’t have plans on stopping there—
It is the newest app of its kind and it has gained a lot of traction since its release. They recently added Dogecoin, and many have been waiting for such to happen with Shiba Inu. Will Robinhood list Shiba Inu?
It seems like a good idea to get them on board, especially because their mascot is a Shiba Inu.
The more people who start using Robinhood, the better it will be for the company. If Robinhood adds the Shiba Inu coin, it will likely become very popular quickly.
Some tokens have already proven themselves as viable investment opportunities and one of these tokens is the Shiba Inu Token. (The DOGECOIN KILLER) from Dogecoin.
On Sept. 17, 2021 Shiba Inu was listed on Coinbase (the largest crypto exchange in the United States). This saw Shiba Inu’s price increased by almost 40% in the following two days as a result of this revelation, bringing the meme dog token back into the spotlight.
Shiba Inu is also expected to increase if listed on Robinhood, But what is Robinhood stand, are they adding Shiba Inu anytime soon? Christine Brown, the chief operating officer of Robinhood Crypto has this to say.
Will Robinhood list Shiba Inu?
When faced with the question Christine Brown (chief operating officer of Robinhood Crypto.) did not state categorically whether or not Shiba Inu will be listed any time soon. But he highlighted that the company is leery of listing volatile coins that might be detrimental to users or breach compliance with regulations.
He was quoted as saying “Our strategy is a little bit different than a lot of the other players out there who are just racing to list as many assets as possible right now. ” Brown said at a Crypto Goes Mainstream event hosted by crypto publication Decrypt on Tuesday. “We think that the short-term gain we might get is not worth the long-term tradeoff for our users.”
Mr Brown’s remarks may come as a shock to the SHIB Faithful who had hoped that the token is listed on Robinhood’s crypto trading platform and has pushed far enough with their petition already gained over 525,000 signatures on change.org.
Some SHIB Faithful took to social media to voice out their disappointment, while others are still hopeful that a change will come.
Listing Shiba Inu would have benefited Robinhood Crypto because there will be a quick surge of trading but for how long, such windfall from Shiba Inu will be short-lived given the coin’s volatility. This won’t be good for what Robinhood stands for.
Daniel Khoo, a research analyst at blockchain analytics platform Nansen emphasized Brown’s worry when he spoke with fortune.com.
He was quoted as saying “Due to uncertain and volatile market conditions, [listing SHIB] might result in significant losses over a short period, and possibly liquidation problems in adverse events of sudden price drops or trading halts,”.
Whether there will be a change on Robinhood’s stand in Listing Shiba Inu, we look forward to that, but as for the present, the result is negative for obvious reasons.
Summary of Will Robinhood list Shiba Inu?
From the fans view, listing Shiba Inu will be a great idea for Robinhood Crypto (Because they will gain from the immediate trading surge) but for how long?
Robinhood Crypto worry is about the implications of Shiba Inu’s high volatility, and that’s cool. If their stand will change over time, we can’t say but for now. Shiba Inu is not on Robinhood Crypto due to its high volatile nature.