Talking right this moment on the Bitcoin 2022 convention in Miami, Robinhood Chief Product Officer Aparna Chennapragada delighted the gang by saying that bitcoin is the highest recurring purchase asset for the corporate thus far this yr. Precise numbers weren’t given.
For the up and coming brokerage agency that revolutionized zero-commission trades, and whose buyer base is made up of fifty% new buyers, this commentary is a robust market sign that new buyers are inserting a large amount of religion, and their funds, right into a crypto future.
However that isn’t all. Though it went unsaid throughout her remarks on the bitcoin-centric occasion, ether, the native token of the Ethereum blockchain, was the third largest recurring purchase.
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Additionally within the high 10 was the meme-coin dogecoin, which briefly surged over 30% earlier this week following information that long-time advocate and Tesla CEO Elon Musk has taken a 9.2% stake in Twitter, the crypto trade’s unofficial city sq., and is planning to take a board seat.
Chennapragada included a few different notable bulletins in her presentation fr crypto natives.
First, as of right this moment the +2 million shoppers on the Robinhood waitlist for exterior crypto transfers have been given full performance. Whereas this function could not resonate with novice buyers that aren’t involved with sending and receiving bitcoin from exterior wallets, it has been a long-sought function for crypto purists that oppose the walled backyard method taken by different fintechs comparable to PayPal almost about their crypto brokerage actions.
Lastly, she additionally famous plans for Robinhood to combine the Bitcoin Lightning Community into its know-how stack. Lightning is a decentralized layer that sits on high of the bitcoin mainnet, which can be utilized to facilitate low-cost and instantaneous funds. Though adoption stays restricted, Lightning has been gathering supporters as of late with firms comparable to Money App, the fee processor BitPay, and main crypto alternate Kraken. It is usually used to facilitate bitcoin funds in El Salvador, which final yr turned the primary nation to just accept bitcoin as authorized tender.