![]() ![]() Likewise, Robinhood shares climbed briefly following the announcement. ![]() The investing app is a favorite among everyday traders who congregate in online forums like Reddit’s r/WallStreetBets, and currently has around 11.4 million monthly active users. The news of the Robinhood listing impacted the SHIB price as it rallied nearly 25% consequently. If you are at all interested in investing, you’ve almost certainly heard of Robinhood. SHIB fans initiated a petition push shortly after Robinhood listed Dogecoin on its platform, garnering over 600,000 signatures in the process. The base of very enthusiastic supporters known as the SHIB Army is a crucial strength for the meme cryptocurrency. Late last year, Shiba Inu overtook Dogecoin to become the ninth largest cryptocurrency, before dropping back to the fifteenth largest in the CoinMarketCap rankings. It quickly rose to become one of the most valuable cryptocurrencies in terms of market capitalization. Shiba Inu gained a lot of popularity amid its breathtaking rally in 2021. It agreed to buy Ziglu Ltd, a cryptocurrency platform based in the United Kingdom, earlier this month.Īdditionally, Robinhood recently listed four new coins: Compound, Polygon, Solana and Shiba, Inu with more to come in the future. Robinhood began rolling out crypto wallets to the more than two million people on its waitlist in early April and recently finished its entire rollout to all consumers. In late March, the company stated that it has expanded its extended trading hours. ![]() To boost revenue and user growth, Robinhood has been introducing new products and features. Robinhood said on its website that it has 18.9 million monthly active users as of September 30, 2021. "At the same time, we've also made progress on our long-term plans and continue to pursue them aggressively." About 660,000 new accounts were funded in the Q3 of 2021. "We're seeing our customers affected by the macroeconomic environment, which is reflected in our results this quarter," said Jason Warnick, Chief Financial Officer of Robinhood Markets. A year ago, the figures for crypto and equities were $88 million and $133 million, respectively. According to the retail brokerage, crypto trading revenue fell 39% to $54 million, although it still outpaced the equities trading revenue of $36 million. Similarly, overall net revenue fell 43% to $299 million compared to $522 million in the first quarter of 2021. ![]()
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