Robinhood, a popular trading platform for crypto investors in the US, has begun spot trading for Hedera's HBAR token. This move might significantly affect the adoption of the token amongst users.
Overview of Robinhood and HBAR
Robinhood is one of the leading platforms for cryptocurrency trading in the US with over 20 million monthly users. The addition of HBAR allows young investors to easily access this asset. HBAR is now the 29th cryptocurrency available for trading on the platform.
Price Changes of HBAR After Listing
Following the announcement, HBAR's price surged nearly 7%, reaching a level of about $0.2481. As of now, HBAR is trading at approximately $0.2516, a 4% increase over the last 24 hours.
Future of HBAR and Hedera Updates
Hedera has also confirmed its intent to improve its technology by releasing a testnet update. This follows growing institutional interest with firms filing for HBAR-focused ETF applications.
Robinhood's support will open new opportunities for a wider user base and may contribute to further growth of HBAR amid increasing institutional interest.
