On Tuesday morning, Robinhood added four new crypto tokens to their exchange platform, including Solana (SOL), Shiba Inu (SHIB), Polygon (MATIC), and Compound (COMP).
The newly listed coins are available to buy and sell on the app. However, “deposit and withdrawal won’t be available immediately for these assets, but that capability is coming soon,” Robinhood said.
Robinhood is one of the leading stock and cryptocurrency exchanges that make it easy for new investors to get involved. Although, the company has been behind the curve when it comes to bringing these coins to the market.
In a statement, Robinhood said their delayed timeline was due to their “rigorous framework in place to help us evaluate assets for listing.”
Since the listing, the newly added coins have all spiked in price. Shiba Inu saw the most significant jump. By the afternoon, Shiba Inu was up more than 20%, Solana saw gains of 5%, Compound jumped close to 7%, and Polygon was up nearly 8%.
Although SHIB spiked the highest, it doesn’t have much utility. On the other hand, it has been the best performing cryptocurrency in the last 24 hours. Currently, it is holding at the 15th biggest digital asset with a market cap of $14.6 billion.