Robinhood List POPCAT,PENGU
Robinhood announced the listing of Pengu (PENGU), Pnut (PNUT), and Popcat. The listings are part of Robinhood’s most recent attempt to compete with established exchange Coinbase and broaden its cryptocurrency offerings.
POPCAT and PNUT traded at $0.15 before Robinhood’s announcement. The moment the information was made public, however, POPCAT shot up to $0.19. Both tokens have yet to recover more than four-fifths of their peak value.
POPCAT was one of the top-performing meme coins of 2024. The price increased by over 10,000 percent, hitting a record high of $2.1 In that period.
However, the meme coin has had a difficult year amid high selling pressure and low demand. Due to this performance, the price of the POPCAT fell to an all-time low of $0.14 earlier this week, leaving it in a depressing state. However, the meme coin’s market configuration changed amid the Robinhood listing.
Robinhood Crypto reported in February that its clients had expressed a desire for additional meme coin trading options. It also started trading cryptocurrency futures in January.
Johann Kerbrat, the general manager and vice president of Robinhood Crypto, reportedly told Bloomberg, “We don’t want to make decisions for the customer, but if customers are asking for something and we feel like we have a way to offer it safely, we will do it.”.
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