Robinhood, the popular stock trading platform and brokerage services provider has declared openly the listing of Chainlink (LINK). Users can now buy and sell the decentralized oracle network ERC-20 token via the Robinhood platform.
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LINK is Now on Robinhood
Robinhood platform continues to increase its portfolio of supported tradable cryptocurrency coins and tokens. On June 28, the online brokerage platform enabled the trading of Chainlink (LINK), notifying the public via this tweet.
LINK is now on Robinhood @chainlink #CryptoListing https://t.co/0aTjVAOhMy
— Robinhood (@RobinhoodApp) June 28, 2022
Interestingly, this is the first time Robinhood Crypto has made a token listing since it last did in April 2022. In mid-April, the platform added support for Shiba Inu (SHIB), Polygon (MATIC), and Compound (COMP).
LINK which was introduced in 2017 is the native token (ERC-20) of the decentralized oracle network. The token is primarily used to reward node operators for granting access to operations/ services on the Chainlink network. Also, LINK is employed in the incentivization of data accuracy on the network.
Chainlink (LINK) is unique in the cryptocurrency ecosystem owing to its rare use cases. The blockchain project serves as a real-world data translator.
With Chainlink (LINK), real-world information like supply chain data, currency conversion r rates, and even sports scores can be converted to smart contracts on the blockchain.
See Here: Shiba Inu (SHIB) and Solana (SOL) Listed On Robinhood
Chainlink Price Grows
Following the update on Robinhood’s listing page, Chainlink (LINK) recorded a brief price rally, touching $7.18 before retracing it to $6.72 at the time of writing.
However, speculations are that the oracle application token could surge higher.
More so, LINK was not left behind in the recent market dump. The token saw a price decline of about 40% as it fell from $9.5 to $5.6 in mid-June.
About Robinhood
Robinhood is a term that represents Robinhood Markets, Inc. and all its in-application and web experiences. Under the Robinhood umbrella, we have Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, and The Robinhood Money, LLC.
While cryptocurrency services are offered through Robinhood Crypto, LLC, brokerage services are delivered through Robinhood Financial LLC and Robinhood Securities, LLC.
Recently, it was rumored by Bloomberg that Sam Bankman-Fried’s FTX was cogitating on acquiring Robinhood. However, the FTX CEO immediately debunked the claims.
While the platform has recently enabled LINK trading, in May 2022, Robinhood said that “it is building a brand new non-custodial, web3 wallet that will allow customers to have total control of their crypto and seamlessly access the decentralized web and all the opportunity crypto has to offer.”
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