Robinhood Lists Shiba Inu For New York Users, Moves 3 Trillion SHIB

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In a latest growth, crypto buying and selling platform Robinhood has listed Shiba Inu (SHIB) for its New York customers. The buying and selling platform additionally drew consideration to itself, having moved a big quantity of Shiba Inu tokens between its crypto wallets.

Robinhood Lists Shiba Inu

Robinhood made this identified in an X (previously Twitter) publish by informing New York State residents that Shiba Inu was now out there for them. The buying and selling platform additionally revealed that it had listed Avalanche (AVAX) and Compound (COMP), which these customers may additionally commerce now alongside Shiba Inu.

Prior to now, Robinhood already made Bitcoin (BTC), Ethereum (ETH), Bitcoin Money (BCH), Litecoin (LTC), Ethereum Traditional (ETC), Dogecoin (DOGE), Chainlink (LINK), and Aave (AAVE) out there to its New York clients. Final 12 months, the platform needed to delist Solana (SOL), Cardano (ADA), and Polygon (MATIC) after the Securities and Alternate Fee (SEC) branded them as securities.

That transfer led to a drop within the crypto platform’s buying and selling quantity. Due to this fact, it wouldn’t be shocking if Shiba Inu and the 2 different tokens had been strategically listed to shore up the hole left by the delisted tokens. SHIB, on its half, data an spectacular day by day buying and selling quantity, and Robinhood could also be seeking to faucet into a few of it.

Moreover, Shiba Inu’s reputation amongst Robinhood’s customers is clear as the meme coin was properly obtained in a number of different states the place buying and selling was already enabled. This optimistic response additional underscores SHIB’s potential to achieve the New York market.

Robinhood Strikes 3 Trillion SHIB

On-chain information reveals that Robinhood moved 3 trillion Shiba Inu tokens simply hours earlier than it introduced that the meme coin was now out there for buying and selling to its New York clients. This transaction is more likely to have been facilitated to satisfy the requests certain to pour in following the announcement.

Robinhood may even have made the transaction merely to satisfy the present demand from its clients in different states the place Shiba Inu buying and selling was already enabled. The buying and selling platform is thought to often make whale transactions involving the meme coin. NewsBTC as soon as reported how Robinhood collected 332 billion SHIB in a go.

Regardless of solely majorly serving the US market, Robinhood has constructed a formidable relationship with Shiba Inu. Knowledge from Etherscan reveals {that a} Robinhood-linked pockets is at the moment the fourth-largest holder of the meme coin. In the meantime, information from the on-chain analytics platform Arkham Intelligence reveals that the buying and selling platform holds over 42 trillion SHIB throughout all its wallets.

On the time of buying and selling, Shiba Inu is buying and selling at round $0.00002523, down over 6% within the final 24 hours, in accordance with information from CoinMarketCap.