Robinhood has eased into adding support for cryptos after announcing it has listed Solana-based meme coin Dogwifhat for trading.
The California-headquartered trading platform announced in a series of tweets on Monday that it has added support for dogwifhat (WIF). Robinhood first hinted at the listing after posting a picture of the famous wool hat associated with the token. Hours later, its CEO Vlad Tenev confirmed the support.
— Robinhood (@RobinhoodApp) November 26, 2024
Robinhood Adds Support for WIF
Meanwhile, Robinhood has been busy on the listing front recently. Aside from yesterday’s WIF listing, the US-based platform has added support for Solana, XRP, and Cardano before sending Pepe to a new all-time high following its maiden debut.
Monday’s WIF listing brings the total crypto assets listed on Robinhood for US clients to 20. Prominent assets like Bitcoin, Ethereum, Dogecoin, and Shiba Inu are already available for trading for customers in the region.
Notably, Dogwifhat’s rise to fame has been one of the epic stories of the year. The meme coin moved from almost nothing earlier in the year to staring at the Las Vegas Sphere and hitting a market capitalization of over $3.3 billion.
Following the Monday listing, WIF surged to $3.57 in a few minutes. However, the meme coin has relinquished some gains but is still up 3.9% in the past 24 hours. At press time, WIF trades at $3.35, having gained 5% this morning.
Robinhood Easing Listing Standards
A few months back, Robinhood delisted notable cryptocurrencies like Solana, Cardano, and Polygon. The exchange based its move on regulatory unclarity around the tokens amidst a clampdown from the Securities and Exchange Commission (SEC).
However, the exchange has relisted the assets and seems to be going on a meme coin rampage with the recent PEPE and WIF support. Notably, the ease in listing standards has been evident as the regulatory clouds are clearing following Donald Trump’s win.
The US President-elect promised to ease regulatory tension around crypto assets and has already forced SEC chair Gary Gensler out of office. Notably, Trump has filled his cabinet with pro-crypto personalities, reassuring exchanges and digital asset firms that the days of regulatory tyranny are over.
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