Robinhood Adds Three New Cryptos For Users In New York

Robinhood added three new cryptocurrencies for users in New York (Photo; Doc. Bloomberg)

JAKARTA - The commission-free trading platform Robinhood recently announced the addition of three new crypto assets for users in New York. The move not only expands investment options for users, but also demonstrates Robinhood's commitment to continue to innovate and strengthen its position in the increasingly competitive crypto market.

Crypto added to this platform are Uniswap (UNI), Stellar (XLM), and Tezos (XTZ), which each has unique potential in the blockchain ecosystem. This addition is expected to have a positive impact on market liquidity and sentiment, as well as open up new opportunities for investors in New York.

This move comes after Robinhood gained great attention during its involvement in the GameStop incident in 2021. Since then, Robinhood has continued to attract more investors through various strategic steps in the crypto sector. The addition of these three cryptocurrencies is expected to have a significant impact on the price of these assets. In general, listing on large platforms like Robinhood can trigger increased liquidity and strengthen market sentiment, potentially increasing prices in the medium to long term.

In addition to the addition of new altcoins, there is speculation about the possibility that Robinhood will include XRP on its platform for users in the US. Currently, XRP is already available to users in the European Union. However, XRP-related decisions in the US are strongly influenced by the legal dispute between Ripple and the US Securities Commission (SEC).

If this case provides regulatory clarity for XRP, it is likely that Robinhood will add it to the US crypto list. Nonetheless, speculation over the addition of XRP is still too early, especially ahead of the Ripple case deadline on October 7. To date, Robinhood has supported 14 crypto assets for users in New York, including Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE).

Following the announcement of the addition of three new cryptocurrencies, Uniswap experienced a price increase of 0.73% to 6.84 US Dollars (Rp103,352). Meanwhile, Stellar experienced a decline of 0.6%, trading at a price of 0.095 US Dollars (Rp1,435). The price of Tezos has been relatively stable in the last 24 hours. With this step, Robinhood has not only expanded its service reach, but has also provided greater opportunities for investors in New York to participate in the growing digital asset market.