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The leading California-based crypto trading platform, Robinhood has attracted the attention of the crypto market enthusiasts, after it announced to extend it its services to Nevada, U.S. According to the announcement, the platform is set to offer its services in Nevada with several cryptos, including meme coins like Shina Inu (SHIB).
On October 25, Robinhood took to X, formerly known as Twitter, and posted the big news with crypto traders.
The post read, “Robinhood Crypto is now available in Nevada! Buy, sell, and transfer 15 cryptocurrencies!”
Notably, Robinhood crypto provides a platform for buying and selling crypto, with easily available real-time data. Some of the crypto coins available with Robinhood are Aave, Bitcoin, Chainlink, Dogecoin, Ethereum and others.
The significant shift and extension of cryptocurrency in the U.S.
The announcement of Robinhood crypto availability in the United States of Nevada came amid increasing market optimism over Bitcoin Spot ETF approval.
Meanwhile, Nevada residents can now trade, sell, and buy Shibu Inu easily, among other cryptos, with no commission and investing as low as $1, initially. The major announcement is aligned with the ETF rule, making access easier than ever.
The U.S. Securities and Exchange Commission (SEC) recently approved an exchange-traded fund (ETF), which permits trade with certain conditions.
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Robinhood expansion to affect Shibu Inu:
Considered one of the most popular trading platforms, especially due to no commission and $1 investment, Robinhood is likely to have more traders with its expansion plants.
Meanwhile, with this major expansion plan, residents of Nevada will also be part of trading with Robinhood and have access to one of the top meme coins, SHIB, resulting in a major surge with the purchase of the meme coin.
Moreover, as stated by lead developer Shytoshi Kusama, there is a need for increased demand for SHIB, and the Robinhood extension is just the right opportunity. This can also lead to a price surge of Shiba Inu, making the path of funds flow.
However, despite the major update, the Shiba Inu price has failed to maintain a steady momentum, declining 1.67% to $0.000007461 as of writing. Simultaneously, its volume over the past 24 hours plummeted 35.68% to $171.02 million.
Meanwhile, several analysts believe that the recent decline in the meme coin’s price could be also due to the slump in the broader market, after a significant rally over the past few days.
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