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Talking in the present day 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 to date this 12 months. Actual 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 traders, this statement is a robust market sign that new traders are putting a large amount of religion, and their funds, right into a crypto future.
However that’s not 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 in the present day the +2 million purchasers on the Robinhood waitlist for exterior crypto transfers have been given full performance. Whereas this function might not resonate with novice traders 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 reminiscent of PayPal on the subject of their crypto brokerage actions.
Lastly, she additionally famous plans for Robinhood to combine the Bitcoin Lightning Community into its expertise 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 reminiscent of Money App, the cost processor BitPay, and main crypto trade Kraken. It’s also used to facilitate bitcoin funds in El Salvador, which final 12 months turned the primary nation to simply accept bitcoin as authorized tender.
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