Trading platform Robinhood has re-listed the coin Solana (SOL) on its platform after removing it a year ago.
Re-listing of Solana on Robinhood
This week, Robinhood re-listed Solana (SOL) on its platform. A year ago, Robinhood removed this coin, forcing users to sell their SOL at $16, while it is now valued at over $216.
Community Response and Delisting Reasons
Many users reacted strongly on the social media site X (formerly Twitter). One user stated 'Will never forgive Robinhood for de-listing SOL at $16.' In June 2023, Robinhood announced Solana, Cardano, and Polygon would be delisted after the SEC labeled them as unregistered securities in lawsuits against Binance and Coinbase. Users could transact these tokens until June 27. In New York, users were not allowed to transfer SOL, causing additional frustration.
Expansion of Robinhood's Crypto Offering
Robinhood's decision to re-list these cryptocurrencies follows recent changes in the crypto market. There might be possible changes in SEC leadership. Johann Kerbrat, Robinhood Crypto’s General Manager, stated there is customer demand for more digital assets. Beyond re-listing major tokens, Robinhood also added PEPE, a popular meme coin that has recently seen a price increase of over 100% in seven days.
Robinhood's re-listing of Solana and other coins reflects growing interest in crypto assets, marking an expansion of the platform's offering amidst changes in the crypto industry.
