On Monday, the company announced on Twitter that the trading app Robinhood Markets (HOOD) now supports the cryptocurrencies Aave (AAVE) and Tezos (XTZ).
Even though cryptocurrency prices have been low since the beginning of 2022, Robinhood Markets (NASDAQ: HOOD) has let its users buy and sell Aave (AAVE-USD) and Tezos (XTZ-USD), which are both down over 70% Y/Y, the retail trading app said on Twitter on Monday.
But if you look at the prices during the day, Aave (AAVE-USD) rose 6.3% to $88 at 11.53 a.m. ET, while Tezos (XTZ-USD) was pretty much flat at $1.36. At the time, Robinhood (HOOD) stock fell 2.8%.
The crypto trading platform now has 19 tokens listed, including bitcoin (BTC-USD), Ethereum (ETH-USD), Cardano (ADA-USD), chainlink (LINK-USD), and Solana (SOL-USD).
Since the beginning of the year, crypto prices have taken a huge hit as the government’s fiscal stimulus fades and the Federal Reserve tightens its money supply. But that doesn’t seem to have stopped the crypto trading platform from adding more tokens to its platform, possibly because retail traders still want to trade cryptocurrencies.
The move came after Robinhood and stablecoin issuer Circle made a deal to let users buy and sell USDC (USDC-USD).
