Robinhood activates the crypto Stellar
The widely used trading app Robinhood, which is popular among younger people, especially for its ability to trade the financial markets without paying fees, is taking another step into the crypto market by adding Stellar (XLM) to its list.
In fact, the famous American trading app announced that it has enabled three more new cryptocurrencies XLM, AAVE and XTZ on its platform. In September, it had added USDC and Matic, making its cryptocurrency offering ever more diverse.
According to data coming from the platform itself, users seem to be increasingly appreciating the market and trading of cryptocurrencies, despite the fact that the market continues to be quite negative.
The three new cryptocurrencies that Robinhood has decided to offer trading for its users are precisely the original asset of Aave, DeFiits cryptocurrency lending protocol, which exploits the flaw of two competitors such as Celsius and Voyager Digital.
Stellar Lumens (XLM) is certainly the best known and most popular of the three currently occupying the 25th position among the most capitalized cryptocurrencies, with a market value of 2.8 billion dollars. This is Stellar’s original cryptocurrency, a blockchain-based payment network.
Finally, XTZ is the native token of Tezos, an open source blockchain that can perform peer-to-peer transactions and serve as a platform for implementing smart contracts.
Robinhood adds Stellar: continuing evolution in crypto
Robin Hoodwhich currently has 18.7 million monthly active users and will publish the results for the third quarter at the beginning of November, is one of the best shares on the stock market. By mid-year, the company had laid off about 10% of its workforce, justifying it with difficult market conditions.
But precisely in an attempt to diversify its offerings in recent months, the trading app has decided to jump headlong into the cryptocurrency market, also given the high demand from users.
USDC, Shiba Inu, Polygon, Solana and Chainlink are just a few of the new coins the company has introduced this year, bringing its total cryptocurrency portfolio to 19. A beta version of Robinhood’s cryptocurrency wallet was released to around 10,000 individuals last month and was first tested with Polygon (MATIC).
Stellar (XLM), one of the most interesting cryptos to trade
According to many experts and analysts, Stellar’s coin will be one of the most interesting in terms of investment and trading. its functionality as a payment intermediary between the international payment system among banks. A service that is highly valued, especially in those countries where money transfers from abroad are widespread. It is a real competitor to Ripple.
However, it reportedly has in recent months lost about 84% of its value on the market, making it one of the worst assets among the cryptocurrencies with the largest capitalization. But now many analysts are convinced that the time has come for XLM’s big redemption.
The well-known influencer and trader, who goes by the name Crypto Capo on social media and has more than 500,000 followers, and who predicted the collapse of the market in early 2022, has advised his followers to bet hard on Ethereum and precisely on Stellar for the coming months.
