The trading platform posted a sharp rise in monthly crypto trading volumes in November, while CEO Vlad Tenev said he hopes to eventually reel in “nine figures” in annual revenue.
300 Million Dogecoin (DOGE) Moved To Robinhood As Price Swells
The Meme-based cryptocurrency Dogecoin (DOGE) has recently experienced a significant increase in whale transactions during an improvement in the crypto asset’s price.
300 Million Dogecoin (DOGE) Dumped In Crypto Exchange
Data from the on-chain crypto tracker Whale Alert recently revealed that a massive amount of Dogecoin (DOGE) was transferred to Robinhood. This whale transaction has attracted the interest of traders and investors in the larger cryptocurrency space.
According to the crypto tracker, the transfer was orchestrated by an unknown wallet address earlier today. The wallet address identified as DDuXG.ruc1wwKF sent about 300 million DOGE to the cryptocurrency trading platform Robinhood.
The post read:
300,000,000 #DOGE (25,033,123 USD) transferred from unknown wallet to #Robinhood.
With the current price of Dogecoin, the whale transaction is valued at approximately $25 million. The whale moved the substantial Dogecoin haul to Robinhood for a comparatively low network cost of just $0.18. This is most likely by taking advantage of times when fees and congestion were low.
The transfer of DOGE to Robinhood suggests that the whale is looking to sell the tokens, igniting speculation in the larger cryptocurrency market. However, it seems that the meme-based cryptocurrency’s price increase runs counter to the tokens being dumped on exchanges.
Currently, the price of DOGE is sitting at $0.0839, indicating an over 2% increase in price in the past 24 hours. Meanwhile, its market capitalization is also reflecting the same percentage rise at $11.9 billion, according to CoinMarketCap.
A similar whale transaction was also flagged by the on-chain tracker recently. In October, a similar transaction of 300 million DOGE tokens occurred thrice, while last month also saw a similar transaction twice.
Large-scale individual transactions usually come with the danger of crashes due to fast liquidations or market manipulation. However, there is no solid evidence that the whale transaction had any impact on the token’s price.
The Crypto Asset’s Holders Increases Significantly
Dogecoin has shown a significant uptick in its total number of holders lately. Analytics firm IntoTheBlock revealed that the total number of addresses holding a balance exceeded 5 million this week, and reached a high of 5.02 million on November 27. A major factor contributing to the rise in new Dogecoin addresses is the cryptocurrency’s increasing adoption and interest.
The on-chain analytics firm also revealed that the numbers have been increasing gradually since the start of the year. “This recent activity is most likely driven by Dogecoin “Doginals”, which don’t require a significant on-chain balance of $DOGE,” IntoTheBlock said.
DOGE trading at $0.0833 on the 1D chart | Source: DOGEUSDT on Tradingview.com
Robinhood (HOOD) Extends Trading Services To The UK
Robinhood, a major player in the United States financial technology industry is set to stretch out its trading services in the United Kingdom for the purpose of growing its business globally.
Robinhood To Offer US Stock Trading In the UK
Co-founder and Chief Executive Officer (CEO) of Robinhood Vladimir Tenev confirmed the expansion toward the UK sector in an interview with Bloomberg. According to the CEO, the expansion aims to bring the US stocks into the UK market.
The CEO stated:
The intention is, for the U.K. market, Robinhood to be the best place to invest U.S. stocks, U.S. dollars, and we believe we can fill that need better than anyone else.
Tenev noted that the company plans to gradually extend its platform to all users in the United Kingdom in early 2024. With the launch, consumers in the UK market will be able to trade 6,000 equities in the US market.
The CEO further asserted that a waitlist has been made available to people who wish to gain early assess to the app. Furthermore, the platform’s launch in the UK is under the Financial Conduct Authority (FCA) regulation.
Additionally, the platform offers users features like a five percent interest, and can change their uninvested funds from pounds to dollars. These offers aim to attract a larger range of investors, particularly those with little financial resources.
Robinhood’s expansion sparks wider growth for its business globally. The CEO explained, “I aspire for Robinhood to be a global company. That’s been the plan from the very beginning. Baiju and I started this company as immigrants and children of immigrants, and so, the idea of making our services […] available to anyone in the world is just the vision that I had in mind from the very beginning.”
The company’s entry into the UK market also puts it in direct competition with national and international companies. These include companies like Public.com, based in New York, Revolut, and Freetrade, among others.
Zero – Fee Trading Initiative
The CEO also underscored the platform’s commitment to offering Zero-Fee trading and accessible trading alternatives for UK users. This initiative is similar to the effective charge reduction strategy that was put in place in the US before the epidemic.
Notably, Robinhood does not demand any commission fee for buying and selling stocks on the platform. Due to this, individuals can start creating their investment portfolios with a minimum of one US dollar (79p).
Tenev explained:
So we are launching imminently to the initial set of customers in the UK, and what we are launching is a commission-free share trading of US stocks.
With its zero-fee trading strategy, the platform’s introduction into the UK market will completely change how average investors interact with the stock market.
Also, with its focus on technology and user-centric features, the platform is poised to impact the current market. It will also bring fresh energy to the UK investment landscape.
Robinhood (HOOD) Extends Trading Services To The UK
Robinhood, a major player in the United States financial technology industry is set to stretch out its trading services in the United Kingdom for the purpose of growing its business globally.
Robinhood To Offer US Stock Trading In the UK
Co-founder and Chief Executive Officer (CEO) of Robinhood Vladimir Tenev confirmed the expansion toward the UK sector in an interview with Bloomberg. According to the CEO, the expansion aims to bring the US stocks into the UK market.
The CEO stated:
The intention is, for the U.K. market, Robinhood to be the best place to invest U.S. stocks, U.S. dollars, and we believe we can fill that need better than anyone else.
Tenev noted that the company plans to gradually extend its platform to all users in the United Kingdom in early 2024. With the launch, consumers in the UK market will be able to trade 6,000 equities in the US market.
The CEO further asserted that a waitlist has been made available to people who wish to gain early assess to the app. Furthermore, the platform’s launch in the UK is under the Financial Conduct Authority (FCA) regulation.
Additionally, the platform offers users features like a five percent interest, and can change their uninvested funds from pounds to dollars. These offers aim to attract a larger range of investors, particularly those with little financial resources.
Robinhood’s expansion sparks wider growth for its business globally. The CEO explained, “I aspire for Robinhood to be a global company. That’s been the plan from the very beginning. Baiju and I started this company as immigrants and children of immigrants, and so, the idea of making our services […] available to anyone in the world is just the vision that I had in mind from the very beginning.”
The company’s entry into the UK market also puts it in direct competition with national and international companies. These include companies like Public.com, based in New York, Revolut, and Freetrade, among others.
Zero – Fee Trading Initiative
The CEO also underscored the platform’s commitment to offering Zero-Fee trading and accessible trading alternatives for UK users. This initiative is similar to the effective charge reduction strategy that was put in place in the US before the epidemic.
Notably, Robinhood does not demand any commission fee for buying and selling stocks on the platform. Due to this, individuals can start creating their investment portfolios with a minimum of one US dollar (79p).
Tenev explained:
So we are launching imminently to the initial set of customers in the UK, and what we are launching is a commission-free share trading of US stocks.
With its zero-fee trading strategy, the platform’s introduction into the UK market will completely change how average investors interact with the stock market.
Also, with its focus on technology and user-centric features, the platform is poised to impact the current market. It will also bring fresh energy to the UK investment landscape.
Robinhood (HOOD) Extends Trading Services To The UK
Robinhood, a major player in the United States financial technology industry is set to stretch out its trading services in the United Kingdom for the purpose of growing its business globally.
Robinhood To Offer US Stock Trading In the UK
Co-founder and Chief Executive Officer (CEO) of Robinhood Vladimir Tenev confirmed the expansion toward the UK sector in an interview with Bloomberg. According to the CEO, the expansion aims to bring the US stocks into the UK market.
The CEO stated:
The intention is, for the U.K. market, Robinhood to be the best place to invest U.S. stocks, U.S. dollars, and we believe we can fill that need better than anyone else.
Tenev noted that the company plans to gradually extend its platform to all users in the United Kingdom in early 2024. With the launch, consumers in the UK market will be able to trade 6,000 equities in the US market.
The CEO further asserted that a waitlist has been made available to people who wish to gain early assess to the app. Furthermore, the platform’s launch in the UK is under the Financial Conduct Authority (FCA) regulation.
Additionally, the platform offers users features like a five percent interest, and can change their uninvested funds from pounds to dollars. These offers aim to attract a larger range of investors, particularly those with little financial resources.
Robinhood’s expansion sparks wider growth for its business globally. The CEO explained, “I aspire for Robinhood to be a global company. That’s been the plan from the very beginning. Baiju and I started this company as immigrants and children of immigrants, and so, the idea of making our services […] available to anyone in the world is just the vision that I had in mind from the very beginning.”
The company’s entry into the UK market also puts it in direct competition with national and international companies. These include companies like Public.com, based in New York, Revolut, and Freetrade, among others.
Zero – Fee Trading Initiative
The CEO also underscored the platform’s commitment to offering Zero-Fee trading and accessible trading alternatives for UK users. This initiative is similar to the effective charge reduction strategy that was put in place in the US before the epidemic.
Notably, Robinhood does not demand any commission fee for buying and selling stocks on the platform. Due to this, individuals can start creating their investment portfolios with a minimum of one US dollar (79p).
Tenev explained:
So we are launching imminently to the initial set of customers in the UK, and what we are launching is a commission-free share trading of US stocks.
With its zero-fee trading strategy, the platform’s introduction into the UK market will completely change how average investors interact with the stock market.
Also, with its focus on technology and user-centric features, the platform is poised to impact the current market. It will also bring fresh energy to the UK investment landscape.
ARK Invest Sells Another $5M of Coinbase Shares; Buys Robinhood, SoFi
The sale of 38,668 COIN shares from the Ark Fintech Innovation ETF follows a similar offload on Monday.
Robinhood to roll out US stock trading in British market
Robinhood CEO Vladimir Tenev said in an interview with Bloomberg that the company is still focused on its global aspirations, and its U.K. expansion is one step toward that.
ARK Invest Sells $5.26M Coinbase Shares as Price Hits 19-Month High
The Ark Fintech Innovation ETF sold 43,956 COIN shares and bought $1.2 million worth of Robinhood stock.
Robinhood meme stock punters denied class suit certification
A court has rejected a motion requesting class action certification from investors pursuing legal action against Robinhood.
Cathie Wood’s ARK bags 1.1M Robinhood shares in one day
Cathie Wood’s ARK Invest has continued accumulating Robinhood shares while dumping Grayscale Bitcoin Trust shares.
U.S. Crypto Stocks Ride BTC Momentum in Pre-Market Trading
COIN, MSTR, HOOD and mining stocks were all showing upward movement in pre-market trading after BTC rose to its highest level in 18 months.
Robinhood eyes European expansion amid Q3 revenue drop
Robinhood attributed the decline in its transaction-based revenue to reduced cryptocurrency trading volumes on the platform.
Robinhood to Expand Crypto Trading Into EU, Plans to Start UK Brokerage
The crypto trading platform for EU will start in “coming weeks.”
What Crypto Can Learn From Regulatory Overhauls at PayPal, Robinhood and Revolut
Robinhood bought back Sam Bankman-Fried’s stake from US govt for $606M
The purchase of the 55 million Robinhood shares had been expected following approval from the company’s board and a U.S. district court.
Robinhood to Buy Back Sam Bankman-Fried’s Stake for $605.7M
The 55 million HOOD shares owned by Bankman-Fried and fellow FTX co-founder Gary Wang through Emergent Fidelity Technologies.
Robinhood’s Crypto Wallet Adds Bitcoin and Dogecoin
Robinhood Markets is expanding the assets supported by its crypto wallet.
Robinhood and Jump Trading No Longer Have Crypto Partnership: Source
The retail broker’s entry into crypto several years ago was powered by Jump Trading, which is a giant in traditional financial markets.
Robinhood accumulated $3B in Bitcoin in 3 months — What does this mean for markets?
Robinhood’s Bitcoin holdings could reshape the crypto landscape by supercharging the influence of retail investors and possibly creating new market risks.
Rumors Of Robinhood Listing XRP Take Center Stage On Crypto Twitter
The crypto community is currently buzzing with excitement and curiosity following rumors of Robinhood potentially listing XRP. These rumors come as the XRP price falls to pre-judgment levels, sparking hope that it could trigger a reversal.
XRP Rumors Has Crypto Twitter In A Frenzy
Rumor has it that an anonymous insider has confirmed the potential listing of XRP, the native token of Ripple, on Robinhood, an American financial trading platform, before the end of 2023. The rumor was started on August 22 by a crypto user on X (formerly Twitter) who goes by the username @25hoursawake.
The whispers of Robinhood listing XRP have sent shockwaves in the crypto community and numerous crypto investors and enthusiasts have taken to Twitter to air out their respective views and opinions on the speculation.
Robinhood is renowned for its meticulous listing process, and according to an X user Crypto Asset Guy, Robinhood has a reputation for not just listing any type of cryptocurrency. The trading platform puts considerable effort and time into its crypto listing procedure to ensure only the highest-qualified cryptocurrencies according to their standards are integrated into its platform.
Alternatively, the crypto and stock trading platform is also known for delisting cryptocurrencies without a second thought, if said cryptocurrency faces any form of regulatory or significant market challenges.
As the crypto space eagerly discusses the ramifications of Robinhood potentially listing XRP, some enthusiasts argue that integrating XRP tokens into the platform would have a positive outlook, exposing the digital asset to a wider audience and increasing investments in Robinhood.
Other individuals have pointed out Robinhood’s affinity for restricting trades and transactions during high market volatility. This has led to doubts about the platform’s ability to provide uninterrupted access to XRP users’ digital assets.
Commenting on the rumors of Robinhood listing XRP, Crypto Assets Guy stated that if the speculations prove to be true, then the crypto community should look forward to a surge in investments and market trends. He emphasized that Robinhood may have insights on XRP, unbeknownst to the public.
“If the rumors are true and Robinhood lists $XRP by the end of the year then prepare for a MASSIVE uptrend. Robinhood is known for being very tedious when selecting which crypto to list. So if they are getting ready to list XRP they must know something,” he said.
Additionally, the outcome would undoubtedly increase the cryptocurrency’s mainstream adoption.
Analyzing The Potential Effect Of A Robinhood Listing
Ripple has been in an ongoing lawsuit with the United States Securities and Exchange Commission (SEC) for almost three years now. The lawsuit was thought to be finalized after XRP took a win following Judge Analisa Torres’s ruling which stated that programmatic XRP sales are not to be considered a security.
However, the SEC has recently issued an interlocutory appeal to reevaluate the case. This move has pushed XRP back to a potentially red zone in terms of regulatory challenges. If the SEC were to emerge victorious, then it could impact the potential listing of XRP on a platform such as Robinhood.
