Quite a lot of cryptocurrencies may assume they’re too cool for the centralized crowd, however slightly mainstream acceptance could be good, and 4 crypto belongings found simply that as they had been listed on the buying and selling platform Robinhood. These had been Shiba Inu [SHIB], Solana [SOL], Polygon [MATIC], and Compound [COMP].
#ShibaInu, #Solana, #Polygon, & #Compound had been all listed on #Robinhood immediately. Notably, $SHIB noticed the largest enhance in curiosity, with a +30% pump. Buying and selling quantity is excessive, and all 4 of those belongings must be anticipated to have very excessive volatility. https://t.co/EpjR6Q2z22 pic.twitter.com/W1jAIxy0NJ
— Santiment (@santimentfeed) April 12, 2022
Of the 4, Solana had the best market cap rating, so let’s see how SOL’s worth handled its brush with fame.
Robinhood: a brand new SOL-mate?
Like many of the high 10 belongings, SOL was hit laborious by the market’s latest dive into crimson territory. At press time, SOL was changing hands at $104.17, having misplaced 17.30% of its worth previously week. Nevertheless, the coin was up by 1.17% previously 24 hours. So, precisely what sort of volatility can buyers anticipate from right here on?
Very first thing’s first. Santiment knowledge confirmed that Solana’s commerce quantity didn’t see any vital change after the Robinhood itemizing. Actually, there was a slight downtrend on the time of writing.
Supply: Santiment
Nevertheless, Buying and selling View revealed one thing attention-grabbing concerning the asset’s volatility. The Relative Volatility Index [RVI] clocked in at above 50, which signifies that potential volatility may take the asset’s worth upwards. It is a bullish signal.
Supply: Buying and selling View
However, the historic volatility indicator was pointing downwards. Although this hints at lessened danger, bulls won’t need to be too fast to buy groceries – particularly when wanting on the macroeconomic components affecting the market.
Simply to be extra certain, nevertheless, let’s analyze the Bollinger Bands. This specific indicator revealed that the bands had been far aside, which once more indicators worth volatility. Nevertheless, notice that the candles are transferring nearer to the decrease band, which means that merchants now not see SOL as such an overbought asset.
Supply: Buying and selling View
That being mentioned, one other issue to keep watch over is how OpenSea formally launches Solana NFTs on its market. This isn’t a lot concerning the NFTs themselves, however relatively how the combination impacts Solana’s personal NFT marketplaces – and their enterprise.
DOGE walked so SHIB may run
Solana is perhaps in an attention-grabbing place, however there’s no query as to how the crypto group’s second-favorite canine coin reacted to being listed on Robinhood. At press time, SHIB was trading at $0.00002689. This got here after rocketing upwards by 17.41% previously 24 hours, regardless of a weekly rally of solely 2.74%
For its half, Robinhood wasted no time in leveraging the information to attract tail-wagging buyers to its platform.
We dropped new crypto ?
And we’re gifting away $100K of it. Quote tweet this tweet along with your Robinhood Username (@ included!) to get some ? #RobinhoodCrypto
The primary 10K quote tweets will obtain $10 of SHIB. pic.twitter.com/0jsBKYfJvw
— Robinhood (@RobinhoodApp) April 12, 2022
