Robinhood Markets trading platform added two new cryptocurrencies in its app, aave (AAVE) and Tezos (XTZ). Robinhood trading app users can now buy and sell the two cryptocurrencies instantly.
Aave is a decentralized, governed protocol with 125,000 token holders that allows users to lend their cryptos and earn interest, and also can borrow cryptocurrencies and real-world assets. AAVE was built on the Ethereum (ETH) blockchain but managed to expand also on Avalanche and Fantom.
AAVEUSD is trading at $82.41; the cryptocurrency has lost over 67% since the beginning of the year and has a 52-week trading range between $45.63 to $457.05. AAVE has a market capitalization of $1.18 billion.
Tezos is an open-source self-upgradable blockchain that executes peer-to-peer transactions and can serve as a platform for smart contracts. The cryptocurrency for the Tezos blockchain is the Tez. The Tezos network uses a proof-of-stake protocol. Owners of XTZ cryptocurrency can vote through a process called “baking,” in which they agreed to lock XTZ coins they owned in special contracts. On the Tezos platform, users can run smart contracts and design new decentralized applications (Dapps).
XTZ is trading at $1.3716, it has a 52-week trading range between 1.1946 to 7.1673. Tezos capitalization stands today at $1.2 billion.
Robinhood Markets (HOOD)
This year, the Robinhood Markets trading platform added several cryptos, including Solana, Polygon, and Avalanche. The Robinhood trading app now offers a total of 19 cryptocurrencies after the inclusion of AAVE and XTZ.
Robinhood Markets (HOOD) stock is at $10.21 and the market capitalization stands now at $8.93 billion. The stock has lost 42% of its value since the beginning of the year and managed to gain 21% in the last three months. The trading app users reached over 22 million in 2022, in 2016 the app had only one million traders. The monthly Active Users in the end of August were 13.3 Million, up 0.1 Million from the same month the previous year.
Nikolas has been involved in the finance industry for over fifteen years spanning across Europe and USA with a depth of knowledge and experience within many aspects of the financial markets. Nikolas gained several years experience with some of the Europe’s leading Brokers, as equity analyst, and trader managing accounts for both Private and Corporate Investors. He enjoys both the fundamental and technical aspects of trading focusing on stock markets and all FX majors. Currently, Nikolas provides analysis and comments to online financial publications. Educational background in Economics (BSc), and Finance (MSc).