10/24/2022
Stock trading app Robinhood listed Aave and XTZ on their commission-free trading platform today. Aave is a DeFI lending protocol that allows users to trade crypto for interest and borrow both crypto and real-world assets. XTZ is the native token of the Tezos blockchain, which is a decentralized blockchain network.
Robinhood supports 19 cryptocurrencies in total, including meme tokens such as DogeCoin and Shiba Inu and other popular cryptocurrencies such as Cardano, Bitcoin Solana, Uniswap, and Ethereum Classic.
On June 28, Robinhood shares jumped 14% on rumors that the exchange would be FTX’s Sam Bankman Fried’s next acquisition. SBF is yet to submit an official offer however SBF commented that Robinhood’s business would be an exciting prospect.
Notably, this is big news for both assets as Robinhood is a popular platform due to its zero fees and ease of use. Consequently, it has millions of users.
It is worth noting that there is yet to be a significant price reaction from both tokens to the news. Tezos is trading at the $1.37 price point, down 0.04% in the last hour. At the same time, Aave is trading at the $87.43 price point, down 0.33% in the last hour.
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