Robinhood Halts Crypto Trading as Bitcoin, Dogecoin Surge
Robinhood is blocking crypto trading, and Coinbase is also temporarily down due to outsized traffic.
Robinhood in Another Crypto Fail
It’s been an eventful week for the markets, not least Robinhood.
The app just halted crypto trading.
Dogecoin, which has previously been available on Robinhood, is up almost 400% today. Meanwhile, Bitcoin has risen past $37,000 since Elon Musk tagged the currency in his Twitter bio.
Yesterday, Robinhood sparked controversy by banning trading on Dogecoin and Gamestop. Retail investors flocked to the app to buy GME stocks as part of a coordinated short squeeze against Melvin Capital and other hedge funds. A large part of the grassroots campaign was organized on the subreddit /r/wallstreetbets.
The phenomenon made headlines around the world, and the group opted to turn to Dogecoin next.
The asset then took a sharp ascent today. It’s climbed into the leaderboard of the top 10 cryptocurrencies by market cap, according to CoinGecko.
Source: TradingView
Elon Musk, known for his sometimes ironic crypto takes on Twitter, got involved by tweeting “Gamestonk!!” on Tuesday. He then made a series of tweets and changed his bio to “#bitcoin.” Bitcoin is now up almost 20% today.
Likely due to the surge in activity, Coinbase is also down at the time of publication.
Disclosure: The author held cryptocurrencies at the time of press.
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
Source: Read Full Article
