Robinhood has confirmed that Chainlink is now available for trading
Chainlink (LINK) has been listed on popular stock trading app Robinhood. The publicly traded company has officially confirmed the listing even after the coin started showing up on its website.
The price of the LINK token has added more than 4% in response to the listing, according to data provided by CoinMarketCap. It is the 22nd biggest token by market capitalization.
As reported by U.Today, Robinhood added support for Shiba Inu (SHIB), Solana (SOL), Polygon (MATIC) and Compound (COMP). Prior to that, the company’s key executives touted the trading app’s conservative listing policy.
Meme coin Dogecoin became available on the platform all the way back in 2018, together with Bitcoin, Ethereum and several other major altcoins.
On Monday, a Bloomberg report stated that cryptocurrency giant FTX was mulling over acquiring Robinhood. However, the exchange, which is helmed by billionaire Sam Bankman-Fried, swiftly denied those rumors.
In May, Bankman-Fried disclosed a 7.6% stake in the company, which made the company’s shares soar by more than 40% in a single day.
Robinhood also announced the launch of its own noncustodial cryptocurrency wallet, allowing users to manage their cryptocurrencies themselves.
Shares of Robinhood have declined more than 50% since the start of the year due to declining user growth caused by the market downturn. Its shares are down yet again in premarket trading after FTX denied the rumored acquisition deal.
According to a report published by the House Committee on Financial Services earlier this week, the company was on the verge of imploding during the GameStop saga in early 2021.