Robinhood confirmed the listings in a blog post, which appear to include Shiba Inu and three major cryptocurrencies. Shiba Inu is a meme coin, Solana and Polygon are blockchains, and Compound DeFi lending technology.
Each of the four coins now has its own page on the exchange, with a message inviting potential traders to sign up to buy or sell.
When it comes to meme coins, Robinhood and Coinbase have been in a bit of a spat. Dogecoin was adopted early on by Robinhood, as it grew in popularity thanks to Elon Musk’s support, accounting for 62 percent of its quarterly crypto sales in Q2 2021. Coinbase was far quicker to the draw for Shiba Inu than Robinhood, which finally added Dogecoin in June 2021.
The critical subject of whether or not Shiba Inu should be listed on Robinhood has been frequently avoided by CEO Vladimir Tenev and other high-profile officials, sparking debate within the community.
Shiba was launched in August 2020, but it didn’t gain popularity until meme coins like Dogecoin became widespread. Shiba was also based on the Shiba Inu dog breed but had a significantly larger total supply of tokens.
Solana is a proof-of-stake blockchain that allows for quick and low-cost transactions. Recent activity on Solana shows it has had decreased performance, which means transactions can be delayed to process.
Polygon is a blockchain that is frequently referred to as an Ethereum sidechain because of its comparable focus on fast performance. Deep transaction reorgs, in which long strings of blocks on the blockchain are modified retrospectively, have been a problem for it.
According to DeFi Pulse, Compound is the sixth-largest DeFi protocol on the Ethereum blockchain. It currently manages $6.3 billion in assets.
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