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Are you looking for information about 3
Reasons Robinhoods Addition of Shiba Inu Doesnt Matter | The Motley
Fool right, fortunately for you today I share about the topic that
interests you, 3 Reasons Robinhoods Addition of Shiba Inu Doesnt
Matter | The Motley Fool, hope to make you satisfied.
Crypto fans were loading up on Shiba Inu (SHIB -0.46%) after
Robinhood Markets (HOODI woke
up to great news today! Shiba Inu (SHIB) announced that you could
start trading it on Monday morning. When I heard this, I was so
excited that I watched the token soar up to 30%. Even 12 hours
later, it was still trading a whopping 17% higher than before the
I’m so thrilled that Shiba Inu is on a new
exchange! Robinhood only had seven digital currencies before adding
four more, including Shiba Inu, on Tuesday. This is definitely a
positive step for us and I’m excited to see what it could mean for
I’m not so sure that this surge in popularity
will last. I want to go over a few of the reasons why Robinhood’s
availability might not be such a big deal for Shiba Inu
1. Robinhood isn’t as relevant as you might
I’m no stranger to the revolution Robinhood
Markets caused in the brokerage industry. It was only a few years
ago, but it’s clear that the major players wouldn’t have adopted
commission-free trading had it not been for Robinhood.
Unfortunately, their grip on the trading community of young
investors has weakened.
Robinhood lost traction as 2021 played out.
There’s no shortage of metrics that prove it.
- I noticed a decrease in the number of users who transacted
monthly over the past three quarters. The amount dropped from 21.3
million to 18.9 million in the second to third quarter and then to
17.3 million in the fourth quarter. It was a significant decline in
just a few months.
- I’ve seen a steady decrease in my user revenue over the past
three quarters. Starting with $137 per user in Q1, my revenue per
user has dropped to $64 in Q4. It’s been a challenging time, but
I’m still determined to make the most of this situation.
- At the halfway point of 2021, I had more assets under my care
than I did at the end of the year. As the year went on, the amount
of assets I was responsible for dwindled. By the end of the year,
my assets under custody were notably lower than they had been. It
was an unexpected and unfortunate decline, but I am determined to
get back to where I was before.
I’m feeling the stress from all sides. People
aren’t buying and selling as much anymore, and that’s taking a toll
on my trading platform. Even worse is the metric that’s really
causing me the most trouble.
I’m an avid trader on Robinhood, and I’ve been
keeping an eye on the crypto markets. While I’ve seen options and
stock trading stay consistent through the last three quarters of
2021, crypto has been quite the opposite. In the second quarter,
Robinhood reported $233 million in transactions-based crypto
revenue, however by the fourth quarter this dropped to only $48
million. This means that within the same timeframe, crypto
transactions revenue decreased from 52% to 18% of the company’s
2. Every spike is different
I’m so excited that Robinhood has added Shiba
Inu to their list of crypto choices! But why is it the only one
that had such a huge spike? In the same 12 hours that Shiba Inu
rose 17%, the other two digital currencies I was tracking only
increased by less than 4%. One of them even has a higher market cap
than Shiba Inu, and the other one is lower. It seems strange to me
that only Shiba Inu experienced such a dramatic rise.
Is there any reason for Shiba Inu to be the one
to surge higher? Is it just because Shiba Inu’s a meme coin? There
is a bullish caseI’m here to tell you that the hype
surrounding Tuesday’s pop of Shiba Inu was more based on hype than
its actual sustainable merits. You should also take a look at the
disappointing returns from the seven cryptos that have been trading
on the Robinhood platform for a while now. To top it off, keep in
mind that proper research should be done before making any
Watch more videos on the same topic : HOW
MUCH SHIBA INU DOES ROBINHOOD HAVE?
HOW MUCH SHIBA INU DOES ROBINHOOD
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3. It’s too late for Robinhood to be taken
seriously in crypto
Robinhood is trying to make up for the lost time
it squandered. It’s finally rolling out a crypto walletI’ve noticed
that crypto traders have been on the move recently, leaving
platforms that don’t make it easy to move their digital currencies.
That’s why I’m making sure to find a platform that makes it simple
and straightforward to move my crypto around. I’m not going to
settle for anything less than a platform that will make the process
of transferring my digital coins easy and secure. With the right
platform, I’ll be able to trade, transfer, and store my crypto with
Investors are smart enough to see through the
“free” crypto trading that Robinhood offers, and the folks sticking
around the once trailblazing platform tend to be small players
these days. Having Shiba Inu coinI’m not saying that Tuesday’s
launch of the new crypto isn’t important, but it won’t have much of
an impact beyond that first wave of hype. The long term success of
the crypto will be based on much more than just an initial
Rick Munarriz has no position in any of the
stocks mentioned. The Motley Fool has no position in any of the
stocks mentioned. The Motley Fool has a disclosure policy.
Frequently asked questions
1. Is Shiba Inu Coin available on
Yes, Shiba Inu Coin (SHIB) is available on
2. How do I buy Shiba Inu Coin on
To purchase Shiba Inu Coin (SHIB) on Robinhood,
simply log in to your Robinhood account and search for the asset.
Once you find it, you can click “Trade” to buy it.
3. How do I stay up-to-date with Shiba Inu
Coin news on Robinhood?
The best way to stay up-to-date with Shiba Inu
Coin (SHIB) news on Robinhood is to follow their official Twitter
account. This is where they post the latest updates and news.
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