Dogecoin News | DOGE Price Index and Live Chart


Dogecoin – Dogecoin Stock – Robinhood added 6 million crypto users in last two months | Fintech Zoom

NEW YORK (Reuters) – Online brokerage Robinhood on Thursday said 6 million new users signed up for its cryptocurrency services in the first two months of 2021 amid higher retail trading volumes and sharp rises in the prices of cryptocurrencies like Bitcoin and Dogecoin.

FILE PHOTO: Trading information for GameStop is displayed on the Robinhood App in this photo illustration January 29, 2021. REUTERS/Brendan McDermid/Illustration

In 2020, Robinhood’s crypto division averaged about 200,000 new customers trading on its platform per month, the company said in a blog post.

A Robinhood spokeswoman declined to say how many overall customers trade cryptocurrencies through the app, which also offers stock and options trading.

The price of Bitcoin, the world’s biggest cryptocurrency, rose more than 300% in 2020 and this month hit a record high of $58,354 with a market capitalization above $1 trillion, but has since come off its highs.

Dogecoin has also soared in value, getting swept up in the social media-fueled retail trading frenzy that has driven up the price of so-called meme stocks, such as GameStop Corp.

Dogecoin was created largely as a satirical critique of the 2013 crypto frenzy, but can still be bought and sold on digital currency exchanges and its price can be volatile.

A tweet earlier this month by billionaire entrepreneur Elon Musk in support of Dogecoin, which is based on a popular internet meme, sent the cryptocurrency up more than 60%.

Robinhood currently allows customers to buy, sell and hold cryptocurrencies, and recently said it plans to give customers the ability to deposit and withdraw them for transfers to other wallets as well.

In January, Robinhood angered some of its customers when it temporarily disabled a feature on its app that allowed users to instantly buy crypto securities due to volatile market conditions sparked by the GameStop trading frenzy.

Robinhood is expected to go public this year, with a value of more than $20 billion.

Reporting by John McCrank; Editing by Nick Zieminski

Dogecoin – Dogecoin Stock – Robinhood added 6 million crypto users in last two months | Fintech Zoom

Tags: Dogecoin

Stock Market, Latest News on C N N.



Read Full Article

Latest articles

Ethereum Breaking This Confluence Resistance Could Spark a Significant Surge

Ethereum is still above the $4,250 support against the US Dollar. ETH price could stage a strong rally if it clears the $4,450...

Ethereum, Litecoin, and Ripple’s XRP – Revisiting Wednesday’s Highs Would Support another Breakout

This is the technical analysis for Ethereum, Litecoin, and Ripple’s XRP. We will be looking at previous day price action and today’s support,...

Foundry Launches Resale Marketplace for Bitcoin Mining Machines

The company has secured over 40,000 of the latest-generation mining machines from MicroBT and Bitmain for immediate delivery through 2022 for the new...

Related articles

Leave a reply

Please enter your comment!
Please enter your name here