Shib is no longer a meme token!
Dimapur, April 12 (EMN): Shiba Inu and Solana were among the four cryptocurrencies that American retail stock trading company Robinhood listed on it platform on Tuesday.
The Shiba Inu (SHIB) listing along with Solana (SOL), Polygon (MATIC) and Compound (COMP) raises the total number of cryptocurrencies available to Robinhood users to 11.
We dropped new crypto 👀
— Robinhood (@RobinhoodApp) April 12, 2022
And we're giving away $100K of it. Quote tweet this tweet with your Robinhood Username (@ included!) to get some 🪙 #RobinhoodCrypto
The first 10K quote tweets will receive $10 of SHIB. pic.twitter.com/0jsBKYfJvw
"We’re excited to add more choices for our customers as we work to make Robinhood the best place to invest in crypto," said Steve Quirk, Chief Brokerage Officer at Robinhood in a blog post. "As a safety-first company, we have a rigorous framework in place to help us evaluate assets for listing, and we remain committed to providing a safe and educational crypto platform."
"These assets are available to buy and sell now on the Robinhood app," wrote Robinhood. "Deposit and withdrawal won’t be available immediately for these assets, but that capability is coming soon."
Robinhood users have long requested the inclusion of more cryptocurrencies for trading including massively popular meme token Shiba Inu. Last year, a Change.org petition saw more than 550,000 signatories asking Robinhood to list the Dogecoin competitor on the platform.
Woof! Shiba Inu $SHIB now listed on @RobinhoodApp. https://t.co/brxIOxy1oC
— Shib (@Shibtoken) April 12, 2022
Following the news, Shiba Inu rose to 25% while the other tokens also saw a steep rise in prices in the high single digits. At the time of writing, Shiba Inu was trading at around INR 0.002101.
Just last week, at the Bitcoin conference in Miami, Robinhood announced that it had rolled out crypto wallets to 2 million "eligible" users. The company said that its crypto wallet will enable users to tip on social media, pay for NFTs and much more. Moreover, the integration of Lightning network to its wallet system will lower transactional fees for Robinhood users, the company said.
"Our goal is to make Robinhood the most trusted and easiest to use crypto platform. We're excited to bring even lower costs to our customers by integrating with the Lightning network," said Vlad Tenev, CEO and Co-Founder of Robinhood.