The price of Hedera (HBAR) is the biggest gainer among the top 20 cryptos, recording nearly double-digit gains despite the broader altcoin market bleed.
The surge is expected and follows a major development set to expand market reach for the altcoin.
Robinhood Lists HBAR: What You Need To Know
Robinhood announced the listing of Hedera Hashgraph’s powering token, HBAR, fueling a notable surge in the altcoin’s price.
The surge comes amid expectations that HBAR will be available to Robinhood users in the US. The trading app has over 20 million monthly active users, many of whom are active retail traders.
Therefore, the Robinhood listing puts the token in front of a large, mobile-first, often younger investor base, many of whom do not use traditional crypto exchanges like Binance or Coinbase.
This means listing HBAR on Robinhood opens the door to new demand, hence the market reaction.
It aligns with recent altcoin price impacts following similar announcements. Recently, Bithumb exchange’s announcement to list Lista DAO (LISTA) and Merlin Chain (MERL) fueled double-digit gains for the tokens.
In the same way, Coinbase exchange’s recent hints at listing BNKR, JITOSOL, and MPLX saw the three new altcoins soar.
Meanwhile, Robinhood’s listing of HBAR is part of a broader expansion into cryptocurrency trading as it competes with exchanges like Coinbase and Binance.US in the American market.
Following President Donald Trump’s election victory in November, crypto exchanges operating in the US have experienced a smoother runway, inspiring bold listing actions, including adding meme coins to their product suite.
With Trump positioning himself as pro-crypto, the US SEC dropped an enforcement action against Robinhood related to crypto trading violations.
Beyond this listing, Hedera price also draws tailwinds from a prospective HBAR ETF (exchange-traded fund), with filings from Grayscale and Canary Capital. Canary Capital pioneered the HBAR ETF race, submitting its filing with the US SEC (Securities and Exchange Commission) in November.
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