Chainlink (LINK) Gets Listing on Robinhood, With Price Rising 9%

Updated by Ryan James
In Brief
  • Chainlink (LINK) got listed today on the popular trading app Robinhood.
  • The price of LINK has reacted positively and is up 9%.
  • Robinhood has previously listed Dogecoin, Bitcoin, Ethereum and several other major altcoins.
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Chainlink (LINK) got listed today on a popular stock trading app, Robinhood. The company officially confirmed the listing even after the cryptocurrency had already started appearing on its website.

A brief official announcement from Robinhood reads that Chainlink (LINK) is now available on the app:

According to CoinGecko, Chainlink (LINK) is today the 22nd largest cryptocurrency by market capitalization. Its market cap is $3.24 billion today, giving it a spot ahead of Cronos (CRO) and just behind FTX Token (FTT).

The LINK token price rose nearly 9% in response to the listing from $6.65 to $7.25 (red arrow). Moreover, LINK generated the highest hourly trading volume since June 15 (blue arrows). It currently sits at $7.05 and continues to rise.

Chart by Tradingview

Chainlink hires despite crypto winter

Chainlink is the largest oracle provider in the cryptocurrency space. The company’s mission is to create a network of decentralized services to power hybrid smart contracts that can respond to off-chain data.

According to Twitter user @Linkstincts, Chainlink Labs continues to hire even in the face of ongoing declines in the cryptocurrency sector and broad financial markets. This is to be evidenced by the experience of one of the company’s employees, who has held the position of Growth Marketer for the past month.

According to the user: “We’re in a bear market where companies are literally going bankrupt and @chainlink is hiring people.”

Robinhood supports cryptocurrencies

Previously, Robinhood has added support for Shiba Inu (SHIB), Solana (SOL), Polygon (MATIC), and Compound (COMP). The company’s key executives highlighted the conservative listing policy on this trading app.

Meme coin Dogecoin became available on the platform back in 2018 along with Bitcoin, Ethereum, and several other major altcoins.

On Monday, Bloomberg reported that cryptocurrency giant FTX is considering acquiring Robinhood. However, the exchange, which is led by billionaire Sam Bankman-Fried, quickly denied those rumors. Despite this, Robinhood’s share price rose 14% within an hour after the news.

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