Robinhood Adds SOL, PEPE, ADA, XRP Following Trump Victory

As a seasoned researcher with over two decades of experience in the financial sector, I have witnessed the evolution of trading platforms and digital currencies from their infancy to their current prominence. The recent announcements by Robinhood and Coinbase regarding the addition of Solana, Pepe, Cardano, and XRP to their respective platforms are a testament to the growing acceptance and recognition of cryptocurrencies in mainstream trading.

In simple terms, the stock and cryptocurrency trading platform Robinhood (HOOD) has significantly expanded the variety of cryptocurrencies that American users can trade, only a week following elections which seem to signal a more favorable regulatory landscape for the crypto industry.

As a researcher, I’m excited to share that starting today, Robinhood has expanded its crypto trading options to include Solana (SOL), Pepe (PEPE), Cardano (ADA) and XRP (XRP). This means that my American counterparts can now trade in a total of 19 different cryptocurrencies, according to the company’s blog post announced this morning.

As an analyst, I’m excited to share that I’ve noticed a significant development in the digital asset market. Notably, Coinbase, having already incorporated all of Hood’s features, has followed suit with Robinhood by introducing PEPE onto their platform. This move underscores the growing demand for these assets and reflects the strategic direction of these leading digital asset platforms.

As a crypto investor, I experienced a gentle upward trend in all the mentioned digital currencies, including Bitcoin, following the latest announcements. Notably, Bitcoin surpassed its previous high and reached an unprecedented level of over $91,000.

Our customers have been repeatedly requesting greater availability of digital resources, and we’re thrilled to keep growing our cryptocurrency selection, as stated by Johann Kerbrat, the Vice President and General Manager of Robinhood Crypto.

The news suggests that President-elect Donald Trump, who will assume office in January, is anticipated to show minimal resistance towards cryptocurrency advancements. One of his pre-election pledges included the dismissal of critic-turned-SEC Chair, Gary Gensler, known for his skepticism regarding cryptocurrencies.

In the previous year, Robinhood stopped offering certain cryptocurrencies such as SOL and ADA following allegations that these digital assets were labeled as securities in a legal case brought forth by the SEC against Binance and Coinbase.

Key players in the industry are seeking clearer guidelines from the Securities and Exchange Commission (SEC) regarding which cryptocurrency tokens will be classified as securities and which won’t. The current SEC, under chairman Gary Gensler, has yet to provide any specific guidance on this matter. However, it is worth noting that the SEC has taken legal action against several crypto exchanges for alleged violations of federal securities laws by offering unregistered securities.