Doge coin is now listed on RobinHOOD crypto
Stock Trading App Robinhud announced on Monday on behalf of the company that Dogecaine has been based on its commission free cryptocurrency trading platform.
Cryptocourrency, created in 2013, is currently the $ 288 million dollar coin market cap, as the 44th largest cryptourcurrency. On top of January, the market cap of dogecoin went up to $ 2.1 billion, much more than the producers Jackson Palmer's allegations, which are not officially involved with the project.
Doge is the fifth ranks on the Robin Hood of the coin. Last week, the brokerage app - which is better for its equity fund - additional support for bitcoin cache and light coin, the firm added after the first launch this year with bitcoin and etherium trading. Users can currently add 11 other cryptoos to their watchlists.
But Why Dogecoin?
To many, Dogecoin is nothing but a joke cryptocurrency, created in the jest of an internet meme, fittingly named Doge. Leading some to ask, if the cryptocurrency was made in jest, why did Robinhood just announce support for it?
Firstly, Dogecoin seems to be technically similar to a majority of the mature cryptocurrency projects, most likely requiring a minimal transition between something like Bitcoin and Dogecoin. For some clarity, Dogecoin is a payment-centric cryptocurrency that focuses on low fees for micropayments, mainly used as an e-commerce tool and an exchange of value by its community.
Additionally, the community around the project is one of the strongest in the whole industry, claiming nearly 120,000Reddit subscribers to its name. It is likely that the Dogecoin community has worked hard to vie for the support of Robinhood over the
Robinhood Continues To Expand
The company has also stated that it is planning to support cryptocurrency deposits, withdrawals, and transfers, possibly showing that it is producing a complete cryptosurcency wallet.
RobinHOOD crypto is currently only available in 17 states, due to a patchwork of state-level rules governing cryptoscopy business. The firm is said to be involved in discussions with the regulators about applying for a national banking charter, in which in addition to other things - local law. For now, the firm is issuing support for convenience on a state-by-state basis.
Specifically, this announcement does not seem to have a significant impact on the price of doge coin. On Monday, at the level of its previous day, DOEG / USD is up nearly five percent, but DOEG / BTC has traded on the shore, which means that the American appreciation of coin is potentially linked to a report that Black Rock, the world The largest asset manager, has started exploring the investment in the cryptocurrency sector.
Contrary to what happened on Friday, when the five altcoins experienced huge prices rise only on the news cryptocurrency exchange and the brokerage giant, discussing with regulators and banking partners was "finding" them to be stable in the future. Was pending.
Robinhood, which now has more than 5 million users, has recently raised $ 363 million at the $ 5.6 billion valuation. Companion officials have said that they intend to operate the neonatal cryptrocessing trading service as a break-event for the near future.