As a seasoned researcher who has witnessed the rapid evolution of the cryptocurrency market over the past few years, I must say that Robinhood’s latest move to add Stellar (XLM) to its crypto transfer features is an intriguing development. While it doesn’t seem to have had an immediate impact on XLM’s price, the increase in trading volume suggests that there’s still a strong interest in this digital asset.
Exciting news for crypto enthusiasts like myself! Robinhood Crypto EU announced on their X page that Stellar (XLM) has been integrated into their transfer features. Now, I can easily withdraw and deposit my XLM funds, expanding the range of digital transactions available to me. Here are the latest stats:
The platform is providing a unique opportunity for users to gain a 1% bonus when they deposit Stellar Lumens (XLM). Notably, the crypto transfer service supports more than just XLM; it caters to over 20 different cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), giving users greater control and security over their funds.
Robinhood Crypto now supports $XLM transfers.
Withdraw and Deposit #XLM with a 1% deposit bonus for a limited time.
Terms apply. Download the app: #RobinhoodOnchain
— Robinhood Crypto EU (@RobinhoodCrypto) October 23, 2024
The incorporation of XLM has ignited debates over whether or not XRP could be the upcoming cryptocurrency that Robinhood will enable for transfer services. Although XRP is already tradable on their platform, only European users can utilize it at present. This speculation intensifies due to whispers about a potential XRP ETF debut, which has caught the attention of both traders and investors alike.
Despite the recent news, the value of XLM has remained relatively stable, falling approximately 1% in the last day. Yet, there’s been a significant surge in trading activity, with volumes increasing by more than 20%. Currently, the price of XLM stands at $0.09408.
Johann Kerbrat, Vice President and General Manager of Robinhood Crypto, emphasized the significance of cryptocurrency transfers in Europe. He stated that Robinhood is working towards making self-custody and delving into Decentralized Finance (DeFi) easier and more accessible for their clients. Kerbrat reassured users that despite the addition of deposit and withdrawal features, Robinhood will continue to uphold its fundamental values of offering a secure, economical, and reliable service.
Robinhood’s Latest Moves: Margin Investing in the UK and Solana Transfers
Beyond enlarging crypto transactions, Robinhood introduced margin investing in the UK on October 21st. This fresh feature empowers users to secure loans from Robinhood for bigger investments, potentially magnifying their earnings. Jordan Sinclair, President of Robinhood UK, articulated that this platform now provides British customers with additional flexible means to refine their investment approaches, all while highlighting its competitive interest rates.
Robinhood has just included Solana in its cryptocurrency transfer options, fueling anticipation for a potential Solana ETF launch. Meanwhile, some tokens like Ripple‘s XRP, zkSync, and Wormhole were not included in the most recent update, leaving users hoping for future updates with excitement.
With Robinhood’s recent integration of Stellar Lumens (XLM) into its crypto transfer service, there is growing anticipation among traders about whether Ripple’s XRP might follow suit. This development could potentially draw more users to the platform and boost overall trading activity in the cryptocurrency market, even though the impact on XLM has yet to be seen. The inclusion of XLM may indirectly influence the price of XRP, possibly causing it to surge in both the short and long term.
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2024-10-23 17:54