obinhood has recently more than doubled its number of tokens, introducing four new tokens to its users. Combined, the new addition takes the total number of crypto assets in their portfolio to 19, signifying a major diversification of services offered by the company.
Market Impact
The announcement of the new joint venture provoked market responses mainly to PEPE, where the price rose by a staggering 65% to $0.00002244. This move corresponds with other meme coin trends, with Dogecon and Shiba Inu surging by 105% and 43% respectively, in the last week.
Regulatory Context
Solana and Cardano come back on the exchange after they were delisted in June 2023 because of the SEC issues. Despite legal issues experienced in its early years such as a Wells Notice, this decision demonstrates increased market credence after recent political events.
Future Outlook
The expansion comes with possible regulatory changes because, according to the news, Dan Gallagher, the chief legal officer of Robinhood, might be appointed the new SEC chair from the next administration.
Robinhood Expands Crypto Lineup
Cryptocurrencies are now offered on Robinhood more than ever before, with the obvious sign that Robinhood is becoming more confident with the cryptos market, and consequently, the public may begin to see enhanced regulations and broader acceptance of cryptocurrencies.
